Total amount raised
$30 Millions
Latest funding date
07/01/2022
Location
PriceLabs has successfully raised funds through a Series A round, with Summit Partners as a key investor. The platform specializes in 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, founded in 2014, is headquartered in Chicago, Illinois. The company operates in the Big Data, Rental, and SaaS industries, providing dynamic pricing and revenue management solutions for the short-term rental market.
Founded by Anurag Verma, Richie Khandelwal, and Sana Hassan, PriceLabs employs between 101-250 people. The platform combines human control with advanced algorithms and market data to help property managers maximize revenue and save time.
How Much Funding Has PriceLabs Raised?
- Series A Round
- Amount Raised: $30M
- Date: July 28, 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: $30M. 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 investing in technology, healthcare, and other growth sectors.
- Investment Focus Areas: Technology, Healthcare, Life Sciences, Growth sectors
- Notable Investments: Not publicly disclosed
What's Next for PriceLabs?
PriceLabs stands at the cusp of significant growth, driven by the increasing demand for dynamic pricing solutions in the short-term rental market. With over 150,000 listings in more than 100 countries, the company is well-positioned to capitalize on the industry's shift towards AI-driven pricing models. This expansion presents a substantial opportunity to enhance their product offerings and integrate with more property management software solutions.
Future fundraising efforts could be bolstered by the recent $30 million investment from Summit Partners, signaling strong investor confidence. As PriceLabs continues to innovate, they may attract further investments or consider strategic acquisitions to expand their market reach and capabilities.
However, the path forward is not without challenges. The company must navigate competition from other AI-driven pricing tools and keep pace with rapid technological advancements. Ensuring seamless integration with a diverse range of property management software solutions will also be crucial for sustained growth.
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