Thynk Raises $13m To Improve Hotel Stays
By: James Flippin · April 13, 2023 · Reading Time: 3 minutes
Thynk, an enterprise software solution for the hospitality sector, just raised $13 million in a Series A funding round. The round was led by Singular, with participation from Itai Tsiddon, CNP, and Fly Ventures.
With the fresh funding, Thynk is looking to revolutionize the $9 billion hospitality industry — which is in desperate need of a technological overhaul.
Updating an Industry
Compared to other industries, many hotels use outdated technology, even major groups like Hilton (HLT), Wyndham (WH), and Marriott (MAR). Their property management systems can help you find a room and get you a key card, but that’s about it — many even delete your info after a stay.
On the other hand, consider the last time you bought something on Amazon (AMZN). Amazon likely remembered your name at login, showed you what you bought recently, recommended products you might like, offered discounts, and much more.
Thynk aims to bring this modern way of thinking to the age-old hospitality industry.
Thynk’s tech is designed to offer customers of hotel chains a better experience. Built on top of Salesforce (CRM), the startup is developing software that will help hotels offer better customer experiences.
This means collecting customer data from each stay and remembering it for the future. This way, hotels can tailor any future stays to your preferences, reach out with discounts, and offer a more customized experience all around.
For those concerned about having more of their personal data collected, Thynk may bring along some baggage. But considering its upside — a more personalized experience for hotel goers across the country — it provides a proverbial bellhop to carry the bags in for you, too.
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