Calculus Capital backs hotel booking software Avvio with £3.5m
Investment will expand marketing efforts and commercial roll-out of product
Private equity fund manager Calculus Capital today announced the completion of a £3.5m round of investment into hotel booking software provider Avvio.
Founded in 2002 by Frank Reeves, Avvio provides a proprietary booking system for hotels to manage guests through their own websites, which the firm claims can significantly boost conversion rates and profit.
In addition to its main software product, the company offers digital marketing and web design services for clients.
Since launch the Limerick, Dublin and London-based business has grown to a team of 40, serving 350 clients across 7 countries including the Dalata Hotel Group – Ireland’s biggest hotel operator.
Avvio said Calculus’ investment would be used to accelerate commercial roll-out of its product in the UK, expand its marketing efforts and continue to develop its booking conversion technology.
Frank Reeves, founder and CEO of Avvio, said: “We look forward to working with Calculus Capital as we take Avvio to the next level.
“With a long list of clients already enjoying the significant increase in direct revenue that our platform and client services can bring, the time is right for us to take our offer to a wider audience.”
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Richard Moore, investment director of Calculus Capital, said: “We are very excited to be investing in Avvio. The true power of the Avvio platform comes from the combination of the hosted software with expert client service.
“The Avvio platform has the potential to transform the revenue and profits of hoteliers worldwide and we look forward to helping its expansion both in the UK and abroad.”