Beonprice to raise €2.5 million in a capital round led by AdaraVentures.

Spain Investments 09 January 2020
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Beonprice, a Salamanca, Spain-based startup developing SAAS for the hospitality industry, announced that it completed a €2.5 million ($3M) investment round in series A.

The funding was provided by a range of investors from Spain led by Adara Ventures and including Travel Tech, KFund and the IBH.

The money will be used to hire more people on the product team, strengthen market position in Spain and Latin America and expand throughout Europe.

Beonprice, founded in 2012 by CEO Rubén Sánchez and Emilio Galán, developed a a Revenue Management System (RMS) solution for the hotels, as it provides specific services including revenue management insights, a training academy, and algorithms that react to market demand for dynamic rate setting.

The company has headquarters in Salamanca and offices in Madrid, Barcelona, ​​Mexico City and Bogotá, and is in use by over 2,000 properties in more than 30 countries, including international hotel brands such as Paradores, Catalonia, Hotelatelier, Iberostar, RIU, HM Resorts, Park Royal, Dreamplace, Hospes and Grupo Velas.

Prior to this round, Beonprice raised €1.5 million from K Fund in 2017.