Berlin-based hotel startup SuitePad closes 7-digit round of funding to accelerate global expansion
SuitePad, a Berlin, Germany-based tech startup and a provider of in-room tablets for the hotel industry, announced it has closed a new round of funding will further its expansion into the European, Asian, and US markets. The exact amount amount was not disclosed, but was said to be in seven-digit. The round was led New York-based investment group, Riverside Acceleration Capital (RAC), as well as current investors Target Partners, IBB Beteiligungsgesellschaft, and Howzat Partners.
Founded in 2012 by Moritz von Petersdorff-Campen and Tilmann Volk, SuitePad started out as an idea to provided a digital communications channel to the guest during the stay. The product development was accompanied by renowned private and chain hoteliers from Germany, Austria and Switzerland. So the SuitePad was very close to the actual needs of the developed chain and private hotels. After 2013, the first SuitePad installation is completed, the product is found not only in sales so far 11 European countries, but was also honored with numerous industry-related awards. In January 2020, SuitePad was named HotelTechReport’s best guest room tablet and best place to work in hotel tech.
“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,” Jonathan Drillings, Partner at Riverside, said.
Commenting on the funding, Berthold von Freyberg, Partner at Target Partners, said: “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.”
“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,” Moritz von Petersdorff-Campen, Co-Founder and CEO at SuitePad, added.