Hotel Tech Disruptor Lokalee Secures US$5.6M Funding for AI-Enhanced Guest Journey
Lokalee, an AI-powered content platform catering to hotels and holiday homes, has secured USD 5.6 million in pre-series A funding in its latest investment round. The funding was led by Crown Private Fund and saw participation from three other investors with a background in both hotel management and technology.
This substantial injection of capital is to fortify Lokalee's ongoing growth initiatives, focusing on product development and the company's expansion into European markets. The funds will be instrumental in advancing Lokalee's position in the industry, given its recent success in building a customer portfolio that includes 250 hotels currently utilising the Lokalee solution. Furthermore, the company's expansion into Austria, Germany, and Saudi Arabia in 2023 underscores its commitment to global market penetration.
The investment reflects the confidence of both Crown Private Fund and other investors in Lokalee's innovative B2B content platform, tailored for the hospitality sector. Lokalee's platform aims to enhance guest interactions, streamline operations, and boost potential revenue for hotels and holiday homes. The platform is a customisable white-label solution that enables guests to seamlessly browse and book various offerings provided by a property and its destination. These offerings are curated by Lokal Curators and supported by global partners.
Lokalee's current success is evident in its widespread adoption, with over 200 brands in 20 countries placing their trust in the platform. Leading hotel groups such as Movenpick, Sheraton, Rotana, Sofitel, Hilton, and Millennium are among the 200 brands that have implemented Lokalee's platform.
Samir Abi Frem, CEO of Advanced Digital Technology and Lokalee, expressed satisfaction with the investor confidence, citing it as validation of the platform's potential within the global hospitality industry. With the newfound funding, Lokalee is determined to expedite its expansion plans and optimise the digitisation of the guest journey for its diverse range of customers. Immediate development plans include the launch of a trip planner that integrates AI technology with curated data from humans, providing a harmonious synthesis of both worlds.