Industry leaders back API-first solution to reduce owners’ labor costs while elevating the guest experience in hotel, multifamily and other real estate verticals
AUSTIN, Texas – Sept. 30, 2020 – Virdee, a SaaS company serving the lodging and commercial real estate industries, announced the closing of a $2M seed round financing led by a group of strategic investors, including former La Quinta president, Rajiv Trivedi.
In a time of disruptive change and shifting models of customer service and operation, Virdee’s software is leading the industry toward the adoption of contactless, customer-centric interactions. Virdee Concierge reduces cost and boosts profitability for owners and operators, not only in the hotel industry, but also in multifamily, senior living, student housing and medical facilities.
- Automates front-of-house workflow – Virdee saves staff time and reduces guest friction around the check-in/check-out process. Results from Virdee’s initial group of hotel beta-sites show a significant reduction in average customer check-in times – from over three minutes to under 20 seconds.
- Elevates the guest experience – By addressing concerns brought about by recent events, Virdee’s innovative suite of products streamlines the check-in experience. Via smartphone or in-lobby device, guests can gain access to a property once they verify their identity and provide a form of payment – either on a self-serve basis or by video chat with a remote agent.
- Increases margins and boosts profitability – Virdee’s software is built to catch and virtually eliminate fraud and other charge backs – which frequently consume over two percent of revenue for hotel owners. Simultaneously, Virdee’s room upgrade engine has shown a meaningful increase in average daily rate.
Rajiv Trivedi, Virdee, chairman of the board, said: “High operational costs continue to compress margins and erode profitability for owners of hotels and other real estate assets – meanwhile their customers increasingly want contactless modes of interaction. This is the moment for hotels, apartments and other buildings to embrace – and lead – the move toward tech-first interactions. Virdee’s break-through product delivers on a seamless and fully integrated guest experience, and I am excited by the feedback I have received from leading hotel brands and owner/operators.”
Branigan Mulcahy, Virdee founder, said: “Virdee is the only complete solution for frictionless, contactless check-in – capable of serving 100 percent of guests 100 percent of the time, simply and cost-effectively. The solution is quick and easy to setup, and we have already integrated with the leading smart-lock manufacturers, payment processors and property management systems most used by hotel and apartment owners.”
Nadav Cornberg, Virdee founder and chief technologist, said: “By focusing first and foremost on the guest journey, we have built a product that is adaptable to a wide range of guest preferences and technical ability. The seed round enables us to invest in continued product differentiation and to meaningfully expand our sales and marketing efforts.”