SuitePad Announces its Latest Round of Funding Led by Riverside Acceleration Capital
The latest seven-digit round of funding comes from New York-based investment group, Riverside Acceleration Capital (RAC), as well as current investors Target Partners, IBB Beteiligungsgesellschaft, and Howzat Partners. With this fresh investment, SuitePad will further its expansion into the European, Asian, and US markets.
Jonathan Drillings, Partner at Riverside, commented: “We are impressed with the work of the whole SuitePad team and it is very encouraging that so many hotel chains have chosen to roll out their solution. With their momentum, team and impressive technology, there is a real opportunity for SuitePad to transform the hotel guest experience. This made the decision to invest in this category leader an easy one.”
Berthold von Freyberg, Partner at Target Partners, added: “SuitePad has successfully driven the development of the company and its products from the original concept of a digital guest directory to a modern hotel room operating system with key functionalities such as centralized room control, hotel room telephone and TV solutions. We are proud to be part of this journey.”
Moritz von Petersdorff-Campen, Co-Founder and CEO at SuitePad, said: “We are excited to have won the trust of Riverside and our existing investors to take our business further. This latest round of funding will accelerate our growth in the hotel industry across the globe. To enhance our position as the market leader for in-room technologies, we will also be investing heavily in the expansion of our software platform.”