AUSTIN, Texas — Virdee, a SaaS company serving the lodging and commercial real estate industries, recently announced the closing of a $2 million seed round financing led by a group of strategic investors, including former La Quinta president, Rajiv Trivedi.
In a time of disruptive change and shifting models of customer service and operation, Virdee’s software is helping to move the industry toward the adoption of contactless, customer-centric interactions. Virdee Concierge automates front-of-house workflow, saving staff time and reducing guest friction around the check-in/check-out process. Results from Virdee’s initial group of hotel beta-sites show a reduction in average customer check-in times from over three minutes to under 20 seconds. Via smartphone or in-lobby device, guests can gain access to a property once they verify their identity and provide a form of payment—either on a self-serve basis or by video chat with a remote agent.
In addition, the technology is designed to increases margins and boosts profitability; it is built to catch and virtually eliminate fraud and other charge backs, which frequently consume revenue. Simultaneously, Virdee’s room upgrade engine helps increase average daily rate.
“High operational costs continue to compress margins and erode profitability for owners of hotels and other real estate assets—meanwhile their customers increasingly want contactless modes of interaction. This is the moment for hotels, apartments, and other buildings to embrace—and lead—the move toward tech-first interactions,” said Rajiv Trivedi, chairman of the board, Virdee. “Virdee’s break-through product delivers on a seamless and fully integrated guest experience, and I am excited by the feedback I have received from leading hotel brands and owner/operators.”
“Virdee is the only complete solution for frictionless, contactless check-in—capable of serving 100 percent of guests 100 percent of the time, simply and cost-effectively,” said Branigan Mulcahy, Virdee founder. “The solution is quick and easy to setup, and we have already integrated with the leading smart-lock manufacturers, payment processors, and property management systems most used by hotel and apartment owners.”
Nadav Cornberg, Virdee founder and chief technologist, added, “By focusing first and foremost on the guest journey, we have built a product that is adaptable to a wide range of guest preferences and technical ability. The seed round enables us to invest in continued product differentiation and to meaningfully expand our sales and marketing efforts.”