GrowthCurve Capital Acquires Duetto
June 27 2024 - 8:00AM
Business Wire
Duetto to Leverage GrowthCurve’s Expertise in
AI to Enhance Hospitality Technology Investments and Further
Accelerate Expansion
Duetto (“Duetto” or the “Company”), a leading provider of
revenue management software for the hospitality industry, today
announced that it has been acquired by GrowthCurve Capital
(“GrowthCurve”). GrowthCurve is acquiring the business from
affiliates of Warburg Pincus and other shareholders. Terms of the
transaction were not disclosed.
Duetto offers innovative solutions that simplify hotel
operations and optimize revenue. With a focus on organic product
development, data and integrations, Duetto connects disparate
systems into a cohesive, efficient platform that drives
profitability and growth for hotels worldwide. More than 6,000
hotel and casino resort properties in more than 60 countries use
the Company’s applications, which include GameChanger for pricing,
ScoreBoard for intelligent reporting, and BlockBuster for
contracted-business optimization. Earlier this week, Duetto
launched its newest product, OpenSpace, a revenue management
solution and booking engine for meeting and event spaces. Duetto’s
reliable customer service and unwavering commitment to simplifying
the complexities of hotel revenue management have led to its
recognition as the #1 RMS for three consecutive years by
HotelTechAwards.
GrowthCurve Capital is a control-oriented private equity firm
focused on building businesses by utilizing data, analytics and
machine learning, combined with a comprehensive approach to human
capital, to seek to accelerate growth and drive long-term value.
GrowthCurve will partner with Duetto to further accelerate its AI
strategy, including the development of new AI products, support the
launch of new business lines and expand into new markets.
David Woolenberg, CEO of Duetto, stated, "We are excited to
partner with GrowthCurve whose expertise in machine learning and
AI, coupled with their experience in high-growth businesses, aligns
perfectly with our vision. This acquisition will boost our
investments in innovative tech, enhance our capabilities to support
our customers and solidify our leadership in hotel revenue
management. We thank our customers, team members, founders and
partners for their continued support, as well as Warburg Pincus,
Icon Ventures and our investors for their partnership. With the
strength of the Duetto brand, we are confident that, together with
GrowthCurve, we will achieve our ambitious growth objectives and
drive the future of hospitality tech."
Matthew Popper, Head of Technology and Information Services
Investing at GrowthCurve, said, “Duetto is a leader in the
fast-growing revenue management software market, with a
differentiated solution that helps clients harmonize data and
manage decision-making at scale. We look forward to partnering with
David and the rest of the management team to accelerate Duetto’s
growth, including applying GrowthCurve’s functional capabilities in
data science and AI to further enhance the solution’s value
proposition for clients.”
Sim Allan, Vice President at GrowthCurve, added, “Duetto is
uniquely positioned to accelerate the adoption of sophisticated
analytics and AI in the hospitality sector, enabling clients to
unlock the value of their data for all stakeholders, including
enhancing guest experiences. We are excited to partner with David
and the industry-leading team at Duetto to continue delivering
innovative software solutions to the hospitality sector.”
“It has been a privilege and a pleasure to partner with Duetto
these past seven years. Duetto’s relentless focus on customer
satisfaction has been key to its success,” said Ash Somani and
Parag Gupta, Managing Directors at Warburg Pincus. “Under David
Woolenberg’s leadership, Duetto has built an incredibly talented
team that we are confident will continue to thrive in its next
phase of growth.”
Jefferies LLC served as lead financial advisor, William Blair
served as an advisor, and Orrick, Herrington & Sutcliffe LLP
served as legal counsel to Duetto. Houlihan Lokey served as
exclusive financial advisor and Davis Polk & Wardwell served as
legal counsel to GrowthCurve.
About Duetto
Duetto delivers a suite of SaaS cloud-native applications for
hospitality businesses to optimize every booking opportunity for
greater revenue impact. The unique combination of hospitality
experience and technology leadership drives Duetto to look for
innovative solutions to industry challenges. The software as a
service platform allows hotels, casinos, and resorts to leverage
real-time dynamic data sources and actionable insights into pricing
and demand across the enterprise. For more information, please
visit https://www.duettocloud.com/
About GrowthCurve
GrowthCurve Capital is a private equity firm focused on building
businesses by leveraging data, analytics, and machine learning,
combined with a comprehensive approach to human capital, to seek to
accelerate growth and drive long-term value. Founded by Sumit
Rajpal, former Global Co-Head of the Goldman Sachs Merchant Banking
Division, the firm focuses on data-rich, control-oriented private
equity investments primarily across the technology and information
services, healthcare, and financial services sectors. For more
information, please visit www.GrowthCurveCapital.com and follow the
firm on www.linkedin.com/company/growthcurvecapital.
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version on businesswire.com: https://www.businesswire.com/news/home/20240626650515/en/
For media inquiries, please contact:
Duetto: Hannah Luffman, VP Global Marketing
Hannah.luffman@duettocloud.com
GrowthCurve: Gagnier Communications Dan Gagnier
646-569-5897 GrowthCurve@gagnierfc.com