Atomize, the innovative revenue management software platform announces the completion of a 3.4 Million Euro pre-IPO funding round in order to accelerate product innovation and global expansion in the hospitality industry
Atomize, the fast-growing revolutionary Revenue Management Software (RMS) provider is reshaping the hotel industry by using sophisticated AI-technology to improve operational efficiencies for hotels and other accommodation providers in the hospitality industry.
The COVID-19 pandemic has forced the entire hospitality industry to rationalize resources in the face of volatile and unpredictable market conditions. This has accelerated technology adoption as commercial operations seek to increase efficiency and organizational alignment, and maximise all revenue opportunities. Atomize’s fully automated revenue solution increases revenue and profits, streamlines revenue management processes and elevates service delivery. The need for lean and responsive revenue solutions have never been greater and Atomize is set to meet the increasing demand by landing a pre-IPO funding round to accelerate its global growth and product innovation.
Alexander Edström, CEO of Atomize says:
“We are proud to have successfully grown Atomize on a global scale despite the worst crisis our industry has ever been through. Coming out of this pandemic we are experiencing rapidly increasing demand for our solution as hospitality teams need to do more with fewer people. The Atomize technology unburdens these teams by facilitating the convergence of commercial functions and making their decisions more effective.”
Atomize is experiencing great interest also from vertical segments in the travel industry and have already signed agreements in the car rental industry with AVIS and are in dialogue with several players within railway and aviation.
“A big advantage with Atomize is the combination of SaaS and AI, which enable us to activate Atomize anywhere in the world, the prices we optimize take into account the local market conditions and business rules that exist. This makes our business model very scalable, not only in the hotel industry, but also in other verticals”, says Alexander Edström, CEO at Atomize
Alexander Edström shares the background to why Atomize is considering an IPO:
“Through an IPO, we can accelerate the rollout of our software to meet the growing demand for automated dynamic pricing. A listing of Atomize enables us to eventually establish our solution in vertical industries and also opens the door for us to set a potential acquisition strategy.”
The funding round was coordinated by internationally reputed Penser Corporate Bank and the issue was oversubscribed by a combination of new and previous investors, including the financial owners Vasastaden and Martin Randel, who led the way with larger holdings.
Hugo Flavet, Corporate Finance at Erik Penser Bank comments;
“Atomize is an interesting company that we at Erik Penser Bank are very happy to work with, the complex problem that Atomize solves adds great value for their customers and there is clear scalability in the business model. Together with their ambitious and forward-looking management team, they are well placed to make a strong journey on the stock market and we are now working towards an IPO in 2022. ”
Atomize plans to use its financing to continue to develop its product suite and to invest in distributing its platform around the world to process larger hotel chains and related segments in the travel industry. Atomize is preparing in parallel to be listed on the Nasdaq First North Growth Market during 2022.