Its headcount has also climbed to 60, compared to 25 a year ago. Via email, McHenry said the company’s revenue grew by over 2.5 times last year. big data machine learning algorithms to automatically adjust and update their prices everywhere they list.”īeyond Pricing previously raised a total of $3.5 million in seed and post-seed funding in 20. It’s platform agnostic so its software integrates with sites like Airbnb and VRBO, as well as systems like HomeAway Software and Streamline, to give property owners and managers the ability “to harness. “Our customers make up the majority of the short term rental industry, but don’t have the resources to invest in their own software, and have traditionally relied on analog ways of pricing their properties,” McHenry said. Background Beyond Pricing CEO and co-founder Ian McHenryĬo-founded in 2013 by McHenry and CTO David Kelso (veterans of the airline and hotel industries), the San Francisco-based company said it leverages over 10 billion proprietary data points in an effort “to make the most accurate pricing recommendations in the industry.” Its goal is to give independents the ability to “competitively price their properties, regardless of the platform they list on, and see up to a 40 percent increase in revenue.” “Any property that serves as a home base for a short-term stay, in the same fashion as a hotel might, is a property we can serve,” said CEO Ian McHenry. The startup defines short-term rentals as vacation rentals, such as the homes and apartments you’d find on Airbnb or HomeAway, as well as other rentals like apart-hotels, which are increasing in popularity across the U.S. It charges 1 percent per booking, with the goal of hitting “that sweet spot in terms of supply and demand.” These independents are “increasingly fighting off competition in the form of VC-backed vacation rental platforms and hospitality conglomerates that are entering the fast-growing space,” Beyond Pricing said. Beyond Pricing, which has developed “dynamic pricing” software for the short-term rental industry, has raised $42.5 million in Series A funding from Bessemer Venture Partners.īeyond Pricing’s automated data-driven software – which the company claims to be “the first of its kind in the industry” – is aimed at independent property owners, managers and developers, a group the company says are “underserved.”
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