Integrated with services like Booking.com, Expedia, Airbnb, and others, Stayflexi’s operating system automates the entire reservation flow, from the booking to the stay to the post-stay review.
Proptech software company Stayflexi today announced it has raised $1.6 million dollars in seed funding from a cohort of prominent investors. Founded in 2020, the company has created a proprietary first-of-its-kind operating system to automate and integrate hotel and vacation stay processes and operations end to end. Notably, it has developed an on-demand and contactless check-in/check-out process, which has been a critical offering as the hospitality industry recovers from the pandemic.
In raising its seed funding, the company caught the attention of major players. Prominent venture capital firms Y Combinator, Agya Ventures, BlueField Capital, Asymmetry Ventures, and Good News Ventures all participated in the round. Additionally, the company was backed by leading individual investors: PagerDuty co-founder Baskar Puvanathasan; Squarefoot Inc. co-founder Jonathan Wasserstrum; and COO of Incuspaze Mohit Srivastava, who also served as an executive at OYO and head of the Indian Subcontinent for AirBnb.
“Our firm is committed to backing companies helping to shape the future of hospitality, and Stayflexi is a prime example of that,” said Kunal Lunawat, Co-Founder and Managing Partner at Agya Ventures. “Hospitality, as we know it, needs to become even more guest-centric: flexible reservations that enable unconstrained check-in and check-outs are just a starting point. We are excited by what the Stayflexi team is building and look forward to helping them realize their vision.”
Integrated with services like Booking.com, Expedia, Airbnb, and others, Stayflexi’s operating system automates the entire reservation flow, from the booking to the stay to the post-stay review. This benefits both guests and hosts, saving operational costs and capturing additional revenue from unsold rooms and amenities; while offering an ultra-customizable, convenient, and streamlined customer experience. The company’s software is being used in over 100 cities across six countries worldwide including India and the U.S., totaling more than 10,000 rooms across 750 paying properties and counting.
“We invested in Stayflexi because their platform opens up new flexible booking opportunities for hotels – making it easy for them to manage upsells, walk-ins, and even fractional stays – which can change the way the hospitality industry operates,” said YC Group Partner Aaron Epstein.
As many aspects of hospitality have been adversely affected by the pandemic, Stayflexi’s software is helping assuage key travel pain points by providing critical flexibility and no-contact services. In fact, the company is helping bring more hotel and vacation rentals back online and begin to recover. During the pandemic, the software has become increasingly in demand; the company has grown 25 percent month-over-month during 2021.
“We founded Stayflexi to try to fix a problem we personally faced in our hotel stays,” said Stayflexi CEO and Co-founder Venkatesh Sakamuri. “As the travel industry modernizes, guests should be able to access their rooms and services anytime, anywhere. Our vision is to make short-term rentals totally flexible in a way that helps both guests and hosts, and we’re very grateful to our investors for supporting this vision.”
ALSO READ: Ireland To Reduce Maximum Annual Increase In Residential Rents
