Total amount raised
$30 Million
Latest funding date
07/01/2022
Location
PriceLabs has successfully raised funds through a Series A round, with Summit Partners as the lead investor. The platform offers dynamic pricing and revenue management solutions tailored for the short-term rental industry.
Keep reading to explore the intricacies of PriceLabs' fundraising journey and the investors backing this innovative platform.
What Is PriceLabs?
PriceLabs is a dynamic pricing and revenue management platform tailored for the short-term rental industry. Based in Chicago, Illinois, the company operates globally, optimizing pricing for over 500,000 properties daily.
Founded in an unspecified year, PriceLabs employs between 101-250 people. The platform is trusted by more than 60,000 hosts and property managers, leveraging advanced algorithms to enhance revenue and occupancy rates.
How Much Funding Has PriceLabs Raised?
- Series A
- Amount Raised: USD 30,000,000
- Date: July 2022
- Lead Investors: Summit Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The capital will be used to expand the team and develop more products, enhancing their AI-led analytical tools and dynamic pricing solutions for vacation homes and short-term rentals.
Total Amount Raised: USD 30,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Summit Partners
- Details: Summit Partners is a global alternative investment firm that invests in growth equity, fixed income, and public equity opportunities. The firm has a history of partnering with companies in various sectors to help them scale and achieve their growth potential.
- Investment Focus Areas: Technology, healthcare, life sciences, growth sectors
- Notable Investments: Uber, McAfee, Infor
What's Next for PriceLabs?
PriceLabs stands at the cusp of significant growth opportunities, driven by the expanding short-term rental market and increasing demand for AI-driven pricing solutions. With over 150,000 listings in more than 100 countries, the potential for further market penetration is immense. The company aims to expand its team and develop new products, enhancing its AI-led analytical tools to better serve property managers and hosts.
Future fundraising opportunities appear promising, given the successful $30 million Series A round led by Summit Partners. As PriceLabs continues to grow, it may attract additional investments to fuel its expansion and technological advancements. However, the company will need to navigate challenges such as competition from other dynamic pricing solutions and the complexities of scaling operations globally.
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