SAN FRANCISCO, Oct. 27, 2022 /PRNewswire/ — Canary Technologies, which is modernizing the hotel tech stack with the first fully mobile web end-to-end Guest Management System and its award-winning Digital Authorization solution, announced today that it has raised an additional $30 million in Series B funding led by global software investor Insight Partners, with continued participation from F-Prime Capital, Y-Combinator, Thayer Ventures, Commerce Ventures, and others. This brings the company's total fundraising to date to $45 million.
Canary has continued to experience significant growth due to the accelerating demand for guest-facing technology solutions in the hospitality industry. This latest round of funding will be used to expand the team to keep up with high customer demand globally, and enhance the platform's solutions.
Canary Technologies is trusted by thousands of hotels in more than 75 countries and has partnered with notable global brands, including Four Seasons, Best Western, Rosewood Hotels, and Radisson hotels.
"Canary's mission is to help hotel operators modernize their tech stacks to deliver the best guest experience possible and remain competitive in the evolving lodging landscape," said Harman Singh Narula, Co-founder of Canary Technologies. "Guests want to engage with digital solutions, like Contactless Check-In and Digital Tipping, and hoteliers are increasingly adopting Canary's platform to meet this demand and streamline operations. Insight Partners has a wealth of experience with vertical software companies and we're excited to work together to continue to accelerate our growth across the globe," said Narula.
The Canary Technologies platform offers an array of products that cater to the specific needs of the hoteliers, including Contactless Check-in, Contactless Checkout, Guest Messaging, Digital Upsells, Digital Tipping, Digital Authorizations and Digital Contracts. The company has seen exponential adoption of its platform which has helped hoteliers increase revenue, improve the guest experience and reduce chargebacks and fraud around the globe.
"We have been really impressed with the durable business that the Canary team has built and their ability to accelerate growth, even during uncertain market conditions," said Thomas Krane, Managing Director at Insight Partners. "This is a testament to the best-in-class solutions Canary provides to hoteliers as they look to meet the digital experiences that the modern guests demand. We're very excited to partner with Harman, SJ, and the entire Canary Technologies team to support their growth as they help drive technology in hospitality forward."
"Over the past few years, we've seen hoteliers everywhere proactively seek out the guest-facing technology solutions Canary provides," said SJ Sawhney, Co-founder of Canary Technologies. "A lot is happening in the guest-facing tech space and hoteliers are prioritizing this. We have a robust roadmap and are excited to use additional resources to further accelerate our development of even more advanced tools and in-depth services for our hotel partners around the world. Our growth is a testament to the Canary team which continues to innovate with our amazing hotel partners."
"Guests expect magical customer experiences and hotels deserve modern technology solutions that can meet those demands. Canary has proven it can innovate and deliver, time and time again, on where the hotel market is going. They are well on their way to being the modern guest facing platform in the hotel industry and have an enormous opportunity to reach hundreds of thousands of hotels worldwide. We're excited to continue supporting the team in the next phase of growth," said Gaurav Tuli, Partner at F-Prime Capital
Co-founded by long-time friends and industry veterans, Narula and Sawhney bring years of experience in hospitality and technology to Canary Technologies. Narula was previously a member of the Global Strategy team at Starwood Hotels and Resorts and a management consultant at Bain & Company, where he advised senior executives in hospitality and technology. He is a graduate of the renowned Cornell School of Hotel Administration and the Wharton School of the University of Pennsylvania. Prior to co-founding Canary, Sawhney led product and technology at Stayful, a booking platform for independent and boutique hotels founded by the former president of Hotels.com. Sawhney is a serial entrepreneur, having successfully founded multiple venture-backed technology companies over the prior decade. He is a graduate of Columbia University.
For more information, visit https://www.canarytechnologies.com.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
About Canary Technologies
Canary Technologies is modernizing the hotel tech stack with the first mobile web end-to-end Guest Management System and its award-winning Digital Authorizations solutions. Digitizing everything from post-booking through checkout, Canary is trusted by more than 20k hoteliers in more than 70 countries, including Four Seasons, Choice Hotels, Radisson Hotels and Ace Hotel Group. Canary's solutions help hotels eliminate paper processes, boost revenue with upsells, raise staff efficiency, ensure PCI compliance, improve the guest experience, and reduce chargebacks and payment fraud. Learn more at canarytechnologies.com.