San Francisco, CA – June 27, 2024 – Duetto (“Duetto” or the “Firm”), a number one supplier of income administration software program for the hospitality {industry}, in the present day introduced that it has been acquired by GrowthCurve Capital (“GrowthCurve”). GrowthCurve is buying the enterprise from associates of Warburg Pincus and different shareholders. Phrases of the transaction weren’t disclosed.
Duetto provides progressive options that simplify resort operations and optimize income. With a concentrate on natural product improvement, information and integrations, Duetto connects disparate programs right into a cohesive, environment friendly platform that drives profitability and progress for lodges worldwide. Greater than 6,000 resort and on line casino resort properties in additional than 60 international locations use the Firm’s functions, which embrace GameChanger for pricing, ScoreBoard for clever reporting, and BlockBuster for contracted-business optimization. Earlier this week, Duetto launched its latest product, OpenSpace, a income administration resolution and reserving engine for assembly and occasion areas. Duetto’s dependable customer support and unwavering dedication to simplifying the complexities of resort income administration have led to its recognition because the #1 RMS for 3 consecutive years by HotelTechAwards.
GrowthCurve Capital is a control-oriented non-public fairness agency targeted on constructing companies by using information, analytics and machine studying, mixed with a complete method to human capital, to hunt to speed up progress and drive long-term worth. GrowthCurve will accomplice with Duetto to additional speed up its AI technique, together with the event of latest AI merchandise, help the launch of latest enterprise traces and develop into new markets.
David Woolenberg, CEO of Duetto, said, “We’re excited to accomplice with GrowthCurve whose experience in machine studying and AI, coupled with their expertise in high-growth companies, aligns completely with our imaginative and prescient. This acquisition will increase our investments in progressive tech, improve our capabilities to help our clients and solidify our management in resort income administration. We thank our clients, group members, founders and companions for his or her continued help, in addition to Warburg Pincus, Icon Ventures and our buyers for his or her partnership. With the power of the Duetto model, we’re assured that, along with GrowthCurve, we are going to obtain our bold progress aims and drive the way forward for hospitality tech.”
Matthew Popper, Head of Know-how and Data Companies Investing at GrowthCurve, stated, “Duetto is a pacesetter within the fast-growing income administration software program market, with a differentiated resolution that helps purchasers harmonize information and handle decision-making at scale. We sit up for partnering with David and the remainder of the administration group to speed up Duetto’s progress, together with making use of GrowthCurve’s useful capabilities in information science and AI to additional improve the answer’s worth proposition for purchasers.”
Sim Allan, Vice President at GrowthCurve, added, “Duetto is uniquely positioned to speed up the adoption of subtle analytics and AI within the hospitality sector, enabling purchasers to unlock the worth of their information for all stakeholders, together with enhancing visitor experiences. We’re excited to accomplice with David and the industry-leading group at Duetto to proceed delivering progressive software program options to the hospitality sector.”
“It has been a privilege and a pleasure to accomplice with Duetto these previous seven years. Duetto’s relentless concentrate on buyer satisfaction has been key to its success,” stated Ash Somani and Parag Gupta, Managing Administrators at Warburg Pincus. “Underneath David Woolenberg’s management, Duetto has constructed an extremely gifted group that we’re assured will proceed to thrive in its subsequent section of progress.”
Jefferies LLC served as lead monetary advisor, William Blair served as an advisor, and Orrick, Herrington & Sutcliffe LLP served as authorized counsel to Duetto. Houlihan Lokey served as unique monetary advisor and Davis Polk & Wardwell served as authorized counsel to GrowthCurve.