Payments management platform provider ROH has secured $9.2m in fresh capital from Highgate Technology Ventures (HTV) and Acrew Capital, which led the investment round.
The newly acquired funds will back the continued scale of ROH’s platform. It aims to streamline the processing of data, including payments, contracts, and folios.
Raja Goel and Kurien Jacob of HTV will join the company’s board of directors while John Gardner from Acrew Capital will also take a seat on the board.
Aiming to overhaul outdated hotel payment operations, ROH reduces dependence on manual tasks involved in transaction handling.
The company said that an estimated 80% of hotel-related transactions such as income from OTAs [online travel agencies], business travel, and group events, require human input.
ROH aims to automate these processes to improve efficiency through its platform, which helps staff reduce errors and boost output.
The company said automation simplifies how hotels handle revenue flow and also replaces labour-intensive methods with streamlined solutions.
The company’s technology is claimed to improve both customer satisfaction and internal performance. It supports sales and finance departments by improving the overall workflow.
ROH founder and CEO Jess Conroy said: “To have HTV, the leading hospitality technology investor with an established track record, as well as a forward-thinking hotel owner-operator like Highgate, whose portfolio extends across over 400 properties, clearly see the overnight value ROH provides to decrease costs while increasing profits is incredibly motivating.
“The number one priority for hotels today is managing costs while driving revenue. The most effective way to do this is to leverage technology that delivers on both. With ROH, hotels see increased revenue overnight; we can’t wait to expand our reach with HTV alongside us.”
“ROH secures $9m in investment round” was originally created and published by Hotel Management Network, a GlobalData owned brand.
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