Having managed to raise funds to the tune of $30 million, as part of a Series A funding, PriceLabs Inc., the pricing and revenue-management solutions company that caters to the short-term vacation rentals space, is gearing to expand its team.
The startup, based in Chicago and Pune, will use the funds to hire quality talent and also develop its offerings and create more dynamic pricing solutions and artificial intelligence (AI) and analytical tools for vacation homes and other properties in the short-term rental industry.
Summit Partners, the global alternative investment firm has invested in the Company, which was founded by Richie Khandelwal, Anurag Verma and Sana Hassan in 2014.
With listings running into millions in the short-term rental space, especially Airbnb and Vrbo, the future for alternative accommodations seems to be rather bright. More people seem to be going for alternative / short-term rental accommodations, which will result in the growth of the sector.
PriceLabs offers simple and conveniently customisable solutions that ensures owners of vacation homes receive a return on investment without delay.
The affordable solutions offered by PriceLabs easily integrate with the software being used by vacation rentals, irrespective of the size and location of the property.
Using the platform’s data-driven model, along with customisations and automation rules, owners of vacation rentals are able to manage the pricing and stay restrictions such that they are able to increase revenues and efficiency.
More than 1,50,000 listings across 100 countries are already benefiting from PriceLabs’ solutions.