TakeUp, an AI-driven platform focused on revenue enhancement for independent accommodations, has successfully raised $11m in a Series A funding round.
Led by 1848 Ventures, this capital injection will be used to further develop TakeUp’s approach to increase demand and improve guest conversion rates for small hospitality brands.
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The company also aims to help brands maximise revenue potential through its “causal inference AI” that is designed to adjust in real-time to changes in the market.
The additional funds will enable TakeUp to expedite its strategic plan to establish its position as the revenue optimisation platform for independent lodging providers.
This expansion includes branching out from pricing strategies to incorporate AI-enabled tools for boosting demand and conversion products, thereby offering independent operators comprehensive control over their revenue streams.
1848 Ventures managing partner Kal Amin said: “The independent hospitality space has been underserved for too long. Smaller hotels have been left with spreadsheets while big brands use AI to win guests and dollars.
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By GlobalData“TakeUp is arming this industry with smarter tools and bold execution. They’re not just building software—they’re giving independents a fighting chance in a market stacked against them.”
In the past year, TakeUp has witnessed an increase of more than 300% in its clientele.
The platform has helped numerous boutique hotels, inns and glamping facilities by supporting them to achieve top-line growth while also saving time spent on manual rate adjustments, stated the company.
TakeUp CEO Bobby Marhamat said: “There can’t be a monopoly on AI for a handful of brands if the industry is going to continue to grow and thrive.
“So we’re tearing down the walled garden and democratising the landscape by giving our customers transparent, automated tools to win – first on pricing and eventually across the entire revenue funnel.”
Last week, TakeUp partnered with property management software provider RMS to enable operators to shift from a reactive pricing strategy to a proactive stance on revenue management with minimal extra effort.
This partnership aims to address operational hurdles by combining smart automation with expert human supervision, which is expected to be advantageous for teams within the independent hospitality sector.
