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Pace
All-in-one revenue platform for hospitality innovators
- 21-100 employees
- Hospitality
- B2B
- Artificial Intelligence
- Business Intelligence
- API
- Automation
- Fitzrovia, London, UK
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Company mission
How, when, and at what price. The answers to these questions represent the largest uncaptured opportunity for the majority of businesses. Pace's mission is to fix this with a revenue platform designed for automation and optimisation.
Our take
According to Pace Revenue, 95% of properties in the global hospitality industry take their pricing decisions manually, leaving 10-20% of their revenues to a combination of experience and chance.
Pace Revenue solves this by giving the industry access to a revenue management solution that emphasises science, real-time and automation. Its machine learning technology lets hotels set room prices dynamically based on demand.
Pace Revenue reckons that the current imbalance in supply and demand costs the hotel industry up to $100 billion every year because inventory is wasted and hotels fail to get the best price for each room. So, if it can help hotels capture some of this lost value and take a cut along the way, Pace Revenue can create a big business.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- Flexible working hours and the ability to work remotely within a remote-first company
- Generous options/equity package within an early-stage company
- Quarterly offsite (after all, Pace operates in the travel & hospitality space!) and regular face-to-face team meetings with your team and peers to fuel-efficient collaboration
- An opportunity to make a big impact in a well-funded, growing, industry-transforming B2B SaaS company
- A company of kind people who care about each other and thrive for communal excellence
- The opportunity to disrupt the world of hospitality-tech and make a name for yourself as the person that formulated the strategy to achieve this - you will be able to take this with you wherever you go
- By directly reporting to the CEO (check Jens’ story out below) and working closely with a founding team with backgrounds in tech, VC and academic research, you can learn and benefit immensely from the team's experience
Company values
- We get it…company values too often sound generic…but we thought really hard about ours and would happily have them tattooed on our arms
- 💪🏾 **Be bold.** We’re outsiders that compete with the leaders in the industry…and we’re still young. We follow hunches, instincts and dreams. Every great discovery starts with a crazy idea
- 📈 **Follow the data.** We were born out of science and data and that will always remain the core thread of the company. Our dream of disrupting an industry has become reality by applying ourselves and our resources in a data-driven way
- 🤝 **Team first**. We’re a group that respects each other and, more importantly, like each other’s company. Humanity is celebrated and work-life balance is appropriately excellent. We’ll only succeed if we trust each other 100% and work together in pursuing our goals
- **🙋🏽♀️ Take ownership**. If you see an important challenge that does not have a clear owner: YOU ARE THE OWNER. Simple. We want to empower you and we encourage everyone to sink their teeth into all those challenges that come along. At the end of the day, it’s about getting stuff done…
Funding (2 rounds)
Jun 2019
$2.6m
SEED
Dec 2017
$2.9m
SEED
Total funding: $5.5m
This company has top investors
Leadership
Jens Munch
(CEO)Part of the team that launched Google Shopping in Europe. Also led strategy at iZettle.
Jason Pinto
(COO)Ph.D. in Physics from Cambridge led to a technology startup and from there to a partner position with Amadeus Capital for 10 years.