Jurny, a Los Angeles-based tech hospitality startup, said it raised an additional $ 9.5 million in a trade financing round led by Mucker Capital. The hospitality start-up will use the funds raised to accelerate the global expansion of its new product: Jurny Virtual.
Helping Hotel Owners and Property Managers Automate Their Hospitality Business
The new solution offers a fully connected technology stack, seamlessly integrating and connecting most major channel management (CMS), point of sale (POS), room management (RMS), facilities management solutions. (FMS), marketing, and smart home technology in a single, easy-to-use dashboard. Founded in 2017, the startup offers property management solutions designed to meet the growing needs and expectations of the modern traveler.
“Our mission is to help small and medium-sized hotel operators and owners access a premium ecosystem that offers the benefit of economies of scale, which are not yet available even to some of the largest hotel chains in the world. Jurny Virtual is revolutionizing the industry by providing world-class service at a much lower cost, including time, without requiring an initial investment, “said Luca Zambello, co-founder and CEO of Jurny.
Erik Rannala, Co-Founder and Managing Partner of Mucker Capital, says that operators using Jurny’s solutions have managed to increase commercial sales by 20%. Additionally, they have been able to cut overhead costs in half as well as double net operating income (NOI) within the first 30 days of implementation.
“These numbers are unmatched in the industry and illustrate that Jurny and its clients are positioned to dominate the global hotel management, short-term and vacation rental market,” Rannala said.
The hospitality start-up brings automation to the operations of hotel owners and property managers through a single, comprehensive technology-driven solution. In addition, the startup also offers other services, including non-stop consultation support and virtual concierge, access control, guest screening, review management and accounting, among others.
David Phillips, co-founder and president of Jurny, said that the COVID-19 pandemic and the uncertainty surrounding global events have transformed the travel landscape forever. This has forced a huge number of owners and operators to recover from incurred losses and find ways to deal with changes in the market.
Phillips believes that Jurny Virtual, which is pioneering the next generation of technology-driven on-demand hospitality, will use the funds raised to further develop a necessary solution that will ultimately see the hospitality business “compete and prosper in the environment. rapidly evolving current “.
Jurny is led by a team of experts in technology and the hotel industry, such as former executives of Meliá Hotels International, Eurostars Hotels, The Chateau Marmont Hotel and Galeno Group. The company’s investment team and advisory board are comprised of former senior executives from eBay, Intel Corp., Sun Microsystems, Mattel, and TripAdvisor.
The vertically integrated model was developed by the start-up to handle redundancies, reduce overall costs, and help stakeholders increase profits. Over the past year, the startup has more than doubled the number of units within its platform and continues to grow its presence in major cities around the world.
Summary
Jurny announced that it has secured $ 9.5 million in an additional business financing round led by Mucker Capital. The startup will use the commercial funds raised to accelerate the global expansion of its new offering, Jurny Virtual.
