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Duetto Raises $80M to Fuel Growth of Revenue Strategy Platform

SAN FRANCISCO—Duetto, a revenue strategy platform for the hospitality industry, closed an $80-million Series D financing round led by funds affiliated with Warburg Pincus, a global private equity firm focused on growth investing.

Duetto was founded in 2012 by CEO Patrick Bosworth, Chief Marketing and Strategy Officer Marco Benvenuti and Chief Technology Officer Craig Weissman, the former CTO at Salesforce.com.

Duetto, headquartered here and with offices in Las Vegas, Cleveland, London and Singapore, has grown to serve more than 2,500 hotels and casinos in more than 60 countries. Those customers have consistently outperformed the market, beating their competition’s rate of revenue growth by more than 6.5% since its launch, according to the company.

“As the pace of change has accelerated and the threats of digital disruption have grown, so have our efforts to help this industry we are so passionate about. We are pleased to have the support of Warburg Pincus, whose extensive experience in building SaaS businesses of scale will help drive our growth and provide solutions to more hoteliers worldwide,” said Patrick Bosworth, co-founder and CEO of Duetto. “For more than a decade, hotel companies have been looking for ways to compete more effectively with online travel agencies and drive more direct business. By unifying data across the tech stack, our platform has become the single source capable of delivering true personalization to consumers. Hoteliers now have the ability to increase conversion and drive more direct engagement with consumers by personalizing pricing and merchandising at the point of booking.”

“Duetto has established itself as the market leader in the hotel revenue management space, providing its customers with next-generation solutions to optimize demand, maximize rates and minimize costs,” said Ashutosh Somani, managing director, Warburg Pincus. “With its strong domain experience and deep cloud SaaS technology leadership, Duetto is uniquely positioned to bring new capabilities to the hospitality industry. We look forward to supporting Patrick and the Duetto leadership team in their next chapter of growth.”

Duetto is backed by investors Warburg Pincus, Icon Ventures, Accel Partners, Battery Ventures and Spectrum 28.

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