Canary Technologies Raises $50M to Accelerate AI Guest Technology in Hospitality
SAN FRANCISCO, June 12, 2024 /PRNewswire/ — Canary Technologies, the global leader in hotel guest management technology, announced today that it has closed a $50 million Series C funding round. The round was led by global software investor Insight Partners, who also led the company’s Series B, with participation from existing investors F-Prime Capital, Thayer Ventures, Y-Combinator, and Commerce Ventures. This brings Canary’s total fundraising to date to nearly $100M, making it one of the top funded hotel technology companies globally.
The resounding support from Canary’s current investors underscores the company’s performance and their unwavering confidence in Canary’s growth trajectory, as it continues to solidify its position as the premier provider of enterprise grade hospitality AI solutions. Canary is trusted by more than 20,000 hoteliers across the globe including a host of flagship enterprise brands such as Wyndham, Marriott, Hilton, Four Seasons, and others.
“AI is transforming the way we live, work, and travel. Canary is at the forefront of delivering enterprise-grade hospitality AI solutions that empower hoteliers to streamline operations, boost efficiency and elevate the guest experience,” said Harman Singh Narula, CEO and Co-founder of Canary. “This funding milestone is a reflection of the team’s hard work and the immense impact that Canary is making for hoteliers, including many of the world’s largest enterprise hotel brands. We continue to see significant demand in the market for our products and are excited to extend our partnership with existing investors.”
“In a year that proved tough on growth and execution in the tech ecosystem, we saw Canary thrive and exceed their ambitious targets, prompting us to double down,” said Thomas Krane, Managing Director at Insight Partners. “We continue to be impressed with Harman, SJ, and the team’s tenacity and ability to deliver hoteliers the best-in-class solutions they need most, and are honored to be a part of the company’s journey.”
Canary is transforming the hotel technology landscape with its award-winning end-to-end Guest Management Platform, and is currently deploying one of the largest rollouts of guest-facing AI technology in hospitality ever.
“Canary remains focused on our mission of helping hoteliers modernize their tech stack to deliver the best guest experiences possible,” said SJ Sawhney, President and Co-founder of Canary Technologies. “We are thrilled to utilize the funding to continue building a world-class team focused on innovation while expediting our ambitious roadmap. With Canary AI already deployed in some of the world’s largest enterprise hotel brands, we look forward to further enhancing our AI capabilities and broadening its use across the industry.”
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 & Resorts and a management consultant at Bain & Company. 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.
About Canary Technologies
Canary Technologies is modernizing the hotel tech stack with its award-winning end-to-end Guest Management Platform. Digitizing everything from post-booking through checkout, Canary is trusted by more than 20,000 hoteliers in 80+ countries, including leading global brands, such as Marriott International, Four Seasons, Choice Hotels, Wyndham Hotels & Resorts, Rosewood and Intercontinental Hotel Group. Canary is the #1 rated solution on HotelTechReport and was the sole hotel technology company named to Fast Company’s Most Innovative Companies in 2023. Canary’s solutions eliminate paper processes, boost revenue, increase staff efficiency, improve the guest experience and reduce chargebacks and payment fraud. Canary’s Hotel Management Software includes Mobile Check-In/Checkout, Tablet Registration, Upsells, Guest Messaging, Canary AI, and Digital Tipping. Learn more at 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 December 31, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 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 the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, 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 X @insightpartners.
SOURCE Canary Technologies
