A glooming recession might be in the horizon (or already here, depending on who is asked). During tough times, companies and consumers try to lower costs and improve margins, & one startup seems to be reaping the results of this trend. Amid an impressive growth, Pruvo is officially announcing the launch of new products, securing funds, expanding into new markets and verticals, and expanding the team.
Advanced A.I technology converts market inefficiencies to profits for companies
Pruvo realized that many times, the hotel´s market price is expected to drop between the reservation moment and the check-in date.
Pruvo’s advanced artificial intelligence fintech technology allows its customers to leverage those price fluctuations and turn them into real profits & savings. This occurs by rebooking the exact same room when the market price drops, and later cancelling the original, more expensive reservation.
During the pandemic, and after saving B2C travelers millions of dollars (www.pruvo.com), Pruvo expanded its' services to the B2B market (www.pruvoai.com) and helps ANY travel company that sells hotel reservations to immediately significantly increase their profitability – sometimes more than doubling profitability!
Over the past two years, Pruvo has managed to collaborate with over 100 travel companies around the world, has partnered with major IT companies like Juniper, TravelgateX, etc., reaching over $1B of hotel reservation value processed through Pruvo's system, and has gained hundreds of thousands of customers (travelers) around the world.
Pruvo is officially announcing it has raised a significant amount of funds from existing and new investors such as 4Founders Capital and Portugal Ventures, for the purpose of accelerating the company´s growth, launching new products, expanding into new markets, and engaging in strategic collaborations with major industry players.
New markets, new products, new verticals
After almost 3 years in stealth mode, Pruvo is officially launching “Pruvo’s marketplace” which allows Pruvo’s B2B customers to gain access to better rates, increase profitability and even increase sales, automatically. Pruvo’s marketplace takes advantage of the advanced technology Pruvo has developed, such as profit optimization, dynamic pricing, A.I-driven hotel & room mapping and much more.
According to Itai Marcipar, Pruvo’s CEO & Co-Founder, “We are excited to officially launch Pruvo´s marketplace, to help our clients not only increase their profitability but also help them generate more sales. Pruvo’s artificial intelligence technology is the key factor to the amazing growth of the company and is the main reason why many clients decided to leave their internal / external rebooking solutions and migrate to Pruvo.”
As part of the company´s roadmap, Pruvo is expected to launch a set of new travel-fintech solutions during the upcoming months and according to Itai Marcipar, Pruvo is also expected to expand its services into new sectors and verticals very soon.
Pruvo realized the urge for increased profitability after the pandemic’s impact on the travel industry and is creating travel-fintech solutions to help travel companies maximize their profits from their existing operations.