July 16, 2024

Duetto changes hands

Duetto, the specialist in hospitality revenue management software, has been acquired by GrowthCurve Capital. Terms of the transaction were not disclosed.

GrowthCurve said it 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”.

Duetto, previously owned by affiliates of Warburg Pincus and other shareholders, offers a range of software solutions used by more than 6,000 hotel and casino resort properties worldwide.

The solutions include GameChanger for pricing, ScoreBoard for intelligent reporting, and BlockBuster for contracted-business optimisation.

Earlier this week, Duetto also launched its newest product, OpenSpace, a revenue management solution and booking engine for meeting and event spaces.

GrowthCurve Capital is a private equity firm focused on “building businesses by using data, analytics and machine learning, combined with a comprehensive approach to human capital, to seek to accelerate growth and drive long-term value”.

David Woolenberg, CEO of Duetto, said: “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 harmonise 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.”