Pruvo raises $1.1m seed funding round

Pruvo has closed $1.1min its seed funding round despite the tremendous impact Coronavirus has had on the travel

This round was led by SeedRocket 4Founders Capital from Spain, along with business Angels from Spain, UK,
Netherlands and Israel.

Pruvo is a service that helps travelers save money on hotel stays by rebooking when the market price drops and has
managed to save over $6.6 million for its customers.

The company launched the “Pruvo Revenue Maker” earlier this year, an AI-driven solution for travel companies which helps travel companies (such as OTAs, Bed Banks, Travel agencies, etc.) to increase their profitability on their existing hotel reservations by re-booking when the market price drops. It has been operating in stealth mode in the last few months and the company is already working with large companies around the world, which have noted an increase of 5% on average on their net income on hotel bookings.

Recently, the company received a surge in requests to implement Pruvo’s “repricing” tool and the company has decided to
waive setup fees for the following months, in order to help travel companies reduce losses by maximising profits for those
reservations that have not been cancelled due to the COVID-19.

Itai Marcipar, CEO and Co-Founder of Pruvo said: “Especially today, at times where the travel industry is experiencing unprecedented times, it’s important that travel companies focus on increasing profitability by utilising innovative solutions such as Pruvo Revenue Maker and converting lemons into lemonade.

“Our recent funding will allow us to expand our sales team as well as expanding our development team in order to meet the
surge of demand of travel companies and slash integration times.”