The company will use the new funding to invest in technology and artificial intelligence (AI) to power its proprietary hospitality operations system.
“We are building a better way to operate hospitality properties: one that’s lighter, smarter, and more profitable,” said Roman Pedan, founder and CEO of Kasa. “This funding allows us to double down on investing in systems to drive performance for our partners.”
Silver Lake Waterman led the raise for Kasa, as it partners real estate owners to improve financial results and improve guest experience. Kasa also has partnerships with Starwood Capital, Berkshire, Greystar and Prudential.
Kasa operates over 85 properties in more than 45 markets across the United States and has more than $100 million in annual booking revenue, having more than doubled its business in the past year.
Pedan said that Kasa aims to give independent hoteliers access to technology and operational backbone that’s traditionally been available only to the larger hotel brands.
“Kasa has a deep understanding of the challenges facing independent hoteliers,” said Shawn O’Neill, managing director at Silver Lake Waterman. “Every part of Kasa, from pricing to guest support, is built with their owners and guests in mind.”
O’Neill said his team is looking forward to working with Kasa to scale their platform.
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