VC fundraising for travel & hospitality software companies
Travel and hospitality software has recovered from the pandemic trough into a market where investors weigh real property or seat economics, payments and booking penetration, and the durability of enterprise relationships with hotels, restaurants and travel operators. Specialist investors who understand seasonality don't penalise it; generalists often do.
Investors are mostly hospitality and travel-specialist seed and growth funds, vertical SaaS investors with built-out coverage in the category, and a small set of corporate venture arms attached to hotel groups and travel platforms. Flow has direct relationships with the hospitality specialists and the vertical SaaS funds that consistently back this market.
Flow has experience running VC fundraising processes for travel and hospitality software companies across hotel PMS and revenue management, restaurant management and reservations, travel agency and tour operator systems, channel managers and distribution technology, and guest experience and loyalty. Our extensive investor network spans early-stage seed funds, growth-stage investors, and strategic and corporate VC arms.
"Travel & hospitality software" KPIs VC investors look at
The metrics venture investors benchmark before pricing a round - in diligence, at the IC table, on the term sheet.
Subscription ARR
Properties / venues
GBV
Payments / booking revenue
Net retention
ARPU per property
Seasonality index
Renewal rate
Gross margin
Logo concentration
Travel & hospitality software valuations in May 2026
Public travel & hospitality software comps trade at 2.4x EV/Revenue. Median revenue multiple across travel & hospitality software VC rounds was 25x in the last 12 months.
2.4x
Median EV/Revenue as of May 2026 for public travel & hospitality software companies
3.8x
Amadeus is the highest valued public travel & hospitality software company based on EV/Revenue (excluding outliers)
2.3x
Median EV/Revenue across travel & hospitality software M&A deals in the last 12 months
25x
Median EV/Revenue across travel & hospitality software VC rounds in the last 12 months
Key recent travel & hospitality software VC rounds
$300M Series D raised by Mews was the largest travel & hospitality software VC round completed in the last six months.
See all travel & hospitality software VC rounds| Logo | HQ | Description | Investors | |||||
|---|---|---|---|---|---|---|---|---|
Jan-26 | Mews |  | Mews is a cloud-native property management system for hotels, hostels, and serviced apartments serving over 5,000 properties in 85 countries. It automates reservations, payments, and housekeeping via open APIs with 1,000-plus integrations including Stripe and Google. Amsterdam-headquartered Mews won Best PMS at the 2024 HotelTechAwards. Founded in 2013 by hoteliers, it processes millions in bookings monthly across five continents. | AtomicoBattery Ventures+4 | $300M | $2.5B | Series D | |
Dec-25 | Duve |  | Barcelona-headquartered Duve provides a digital platform that integrates with property management systems, channel managers, payment processors, and mobile key providers for hotels, hostels, and vacation rentals. Operating in over 60 countries with more than 100 integrations, the solution enhances guest experiences, boosts profitability, and maintains personalized service. Founded by hospitality experts in 2016, it serves independent properties seeking seamless technology overlays. | Susquehanna Growth EquityXT Venture Capital | $60M | - | Series B | |
Jan-26 | Trybe |  | Trybe is a bookings and business management software platform designed for the spa and leisure industry, streamlining reservations, operations, and customer interactions. | Five Elms Capital | $30M | - | Series A | |
Jan-26 | eat |  | Eat App is a Bahrain-headquartered cloud platform for restaurant reservations and table management. It automates bookings, guest CRM, and host operations for chains like Four Seasons, Ritz-Carlton, and Maine Group. Founded in 2014, the system integrates real-time data to boost revenue and loyalty in the Middle East and beyond. | Zenchef | $10M | - | Series B | |
Feb-26 | Odynn |  | Odynn is a Tel Aviv-headquartered AI platform enabling fintechs and banks to embed travel booking, loyalty rewards, and concierge services via APIs. The modular system supports white-label portals and agentic AI chatbots, sharing commissions from bookings with partners. | Bonfire VenturesFiat Ventures | $9.5M | - | Seed | |
Feb-26 | happyhotel |  | Happyhotel is a cloud-based revenue and yield management platform designed for small and medium-sized hotels. It features intuitive dashboards for tracking RevPAR, occupancy, ADR, and revenue trends, alongside booking pace graphs and on-the-books analysis to adapt to market shifts. Automated price recommendations derive from proprietary algorithms, with seamless integration to hotel property management systems for real-time data. Daily reports and budget alerts streamline operations for hoteliers. | Reimann Investorsseed + speed Ventures+2 | $7.7M | - | Series A | |
Dec-25 | T | Timespace |  | Timespace delivers digital platforms transforming hotel and travel operations while enhancing guest engagement. | Zhonglian International Investment | $7.1M | - | Series A |
Feb-26 | Crash Override | | Crash Override is a New York-based SaaS platform for task management and workflow automation in creative agencies. It offers customizable checklists, deadline tracking, and integrations with Asana and Slack for project handoffs. Founded in 2022, the tool streamlines approvals for marketing campaigns serving clients in advertising and media production. | RSA Conference | $5.0M | - | Seed | |
Dec-25 | VBooking | | VBooking is a travel technology platform that streamlines operations for modern businesses through booking and management tools. | - | $5.0M | $60M | Undisclosed stage | |
Feb-26 | Takeat |  | Takeat is a restaurant management SaaS platform headquartered in Bucharest, Romania. Founded in 2020, Takeat equips venues with digital menus on QR codes, order-at-table systems via iPad, and loyalty programs offering 5-20 percent cashback tracked through 50,000 customer profiles. Deployed in 1,000 locations across Europe, the platform integrates with POS systems like Lightspeed for real-time inventory of 500+ menu items and analytics on peak hours from 18:00 to 21:00. | DGFQuartzo Capital | $2.9M | - | Series A | |
Feb-26 | Sojo | | Sojo is a technology platform that automates housekeeping and guest amenities for short-term rental hosts. Operating primarily in the United States, the company manages turnovers for properties listed on Airbnb and Vrbo by dispatching local teams for cleaning, linen changes, and restocking essentials like soaps and toiletries. Sojo eliminates inventory management burdens for owners through its app-based scheduling and vendor network. Hosts access real-time updates on property readiness, enabling faster bookings and higher occupancy rates in markets including Florida and California. | - | $2.5M | - | Undisclosed stage | |
Apr-26 | Otel AI |  | Otel AI serves as an AI teammate for hotel leaders, handling back-office tasks and converting data into actionable insights. | NebularPaul Forster+1 | $2.3M | - | Seed | |
Apr-26 | GET LOCAL |  | GET LOCAL is a Swiss company developing B2B marketplaces and booking software for hotels. Its tools enable cross-selling of local activities, tours, and experiences during guest check-ins and online portals, primarily serving Alpine resorts in Zurich and Geneva. | - | $2.3M | - | Undisclosed stage | |
Mar-26 | Lobby | | Lobby develops AI agents for hotels to assist staff. | Founderful | $2.2M | - | Seed | |
Feb-26 | RobosizeME | | - | Botanique Hospitality Management GroupBrightCap Ventures+2 | $2.0M | - | Seed |
VC investors active in travel & hospitality software
Y Combinator is the most active VC investor across travel & hospitality software, having invested in 8 startups in the last three years.
See all travel & hospitality software VCs| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
Y Combinator | | Y Combinator is a San Francisco-headquartered startup accelerator that funds and mentors early-stage technology companies across sectors like software, biotechnology, and fintech. Since its inception in 2005, it has propelled alumni including Airbnb, Dropbox, and Stripe through intensive three-month programs featuring Demo Days and investor networks. | LanceParametricCodyco+2 | 8 | Pre-seed | |
Antler |  | Antler is a Singapore-headquartered global venture capital firm founded in 2017 that invests in early-stage tech companies. It operates day-zero programs in 27 cities, backing 1,000+ startups with $100 million deployed annually across AI, fintech, and sustainability. Portfolio includes unicorns like Hold One and Tiqets, with a network of 3,000 mentors and 700+ investors for follow-ons. | Nihin MediaAnamayaKismet+2 | 6 | Pre-seed | |
Kinnevik |  | Kinnevik AB is an operationally oriented investment group with an entrepreneurial focus on building digital brands. It concentrates its growth-style investment efforts on four sectors: TMT, e-commerce and marketplaces, Healthcare and financial services. Nearly all of its capital is committed to the communication e-commerce and marketplace sectors. The group, through its various subsidiaries, is geographically diversified and operationally present in over 80 countries. Kinnevik's bias is toward investing in emerging markets because of the opportunity afforded by these markets' reliance on legacy products and services. A key component of its is to create consumer choice of solutions in markets where supply may have been previously constrained. | MewsTravelPerkAnterior+1 | 6 | Series D | |
Thayer Ventures | | Thayer Ventures is a Washington D.C.-based venture capital firm exclusively targeting travel, hospitality, and logistics technology startups. Founded in 2011 by Expedia alumni, it capitalizes on the $10 trillion global travel market disrupted by digital platforms and consumer shifts. The firm has invested in over 50 companies, including corporate travel platforms like TripActions, hotel management systems from Cloudbeds, and experiential booking services such as GetYourGuide and Klook. With additional offices in New York and Los Angeles, Thayer Ventures supports portfolio growth through industry expertise in revenue management, distribution, and guest experience technologies. | AmenitizCanary TechnologiesTripSuite+2 | 5 | Seed | |
Battery Ventures | | Battery Ventures is a Boston-headquartered global investment firm focusing on technology companies in application software, cloud infrastructure, consumer internet, mobile, and industrial automation. Founded in 1983 with offices in San Francisco, Tel Aviv, London, and Mumbai, it manages over $13 billion and has backed firms like MongoDB, Marketo, and Coupa. | MewsFetcherrLanes & Planes+2 | 5 | Series B | |
Insight Partners | | Insight Partners is a New York-headquartered global venture capital and private equity firm specializing in software investments. The firm targets high-growth companies in enterprise software, SaaS, fintech, cybersecurity, and healthcare IT sectors. It provides capital, operational support, and talent placement to portfolio companies spanning seed through late-stage growth. Notable investments include DocuSign, Shopify, and Recorded Future. With offices across North America, Europe, Israel, and Asia, Insight Partners manages a diverse portfolio exceeding 800 companies. Founded in 1995, the firm emphasizes scaling businesses through dedicated teams for go-to-market strategies and mergers. | ROLLERCanary TechnologiesIterative Health+2 | 4 | Undisclosed stage | |
F-Prime | | F-Prime Capital is a Boston-headquartered venture capital firm investing in life sciences and technology, managing over $5 billion across funds. Originating from Fidelity Investments in 1946, it has backed companies like Alibaba, Moderna, and Ultragenyx, with teams in Cambridge, San Francisco, London, and Asia via Eight Roads. The firm focuses on therapeutics, diagnostics, and AI platforms. | Canary TechnologiesTripSuiteLighthouse+2 | 4 | Series C | |
Plug and Play | | Plug and Play is a Sunnyvale-headquartered venture builder founded in 2006 that operates accelerator programs in 40 industries including fintech, insurtech, and mobility across 50 global offices. It connects over 3,000 startups annually with partners like Google, Visa, and Mercedes-Benz through demo days and corporate innovation challenges. The platform invests in seed and Series A rounds while providing co-working spaces in hubs from Silicon Valley to Singapore. | Userguest.comDirecto TechThe Digital Hotelier+2 | 4 | Seed | |
G | Gilles Mattelin |  | Henchman AI operates with Gilles Mattelin as co-CEO and founder, building AI tools for business automation. The company targets enterprise workflows from a base informed by Mattelin's Vlerick Business School training. Henchman focuses on practical AI deployments in sales and operations. | FeedelityRookooOtamiser+1 | 3 | Seed |
J | Jorn Vanysacker | | Jorn Vanysacker is the co-CEO and founder of Henchman, a Ghent-based sales execution platform providing AI-driven coaching and conversation intelligence for B2B teams. Henchman analyzes sales calls and integrates with CRM tools like Salesforce for enterprises in Europe. Vanysacker guides expansion from Belgium into neighboring markets. | FeedelityRookooOtamiser | 3 | Seed |
Founders and investors we've worked with
We've supported winning builders across travel & hospitality software and beyond.
Ziik
We acted as fundraising advisor to Ziik, a Copenhagen-based all-in-one social intranet and internal communication SaaS platform, on its growth funding round.
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Sentryc
We led the capital raising process for Sentryc, a Berlin-based AI-driven brand protection and IP software provider, on its growth round led by Seventure Partners.
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Picus Security
We advised PE firm Turkven on its $24m Series B investment into Picus Security, an Istanbul-based breach and attack simulation (BAS) cybersecurity platform.
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sevDesk
We advised New York-based crossover investor Arena Holdings on its €50m growth investment into sevDesk, a leading German cloud-native accounting platform for SMEs and freelancers.
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Orka
We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.
See moreRecent VC fundraising track record
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