GrowthCurve Capital Acquires Duetto | June 27, 2024 Accommodation

San Francisco, California-based Duetto announced that it has been acquired by GrowthCurve Capital. GrowthCurve will acquire the business from affiliates of Warburg Pincus and other shareholders. Terms of the transaction were not disclosed.

Duetto provides solutions that simplify hotel operations and optimize revenue. With a focus on organic product development, data, and integration, Duetto connects systems into a unified platform to drive profitability and growth for hotels around the world. Over 6,000 hotel and casino resort properties in over 60 countries use the company's applications, including GameChanger for pricing, ScoreBoard for intelligent reporting, and BlockBuster for contract business optimization. Earlier this week, Duetto released its latest product, OpenSpace, a revenue management solution and booking engine for meetings and event spaces.

GrowthCurve Capital is a control-oriented private equity firm that leverages data, analytics and machine learning, combined with a holistic approach to talent, to build businesses to accelerate growth and increase value. GrowthCurve has partnered with Duetto to further accelerate its AI strategy, including developing new AI products, supporting the launch of new business lines and expanding into new markets.

David Woolenberg, CEO of Duetto, said, “We are excited to partner with GrowthCurve, whose expertise in machine learning and AI and experience working in high-growth businesses are a perfect fit with our vision. This acquisition accelerates our investment in innovative technology, strengthens our ability to support our guests, and enhances our leadership in hotel revenue management. We thank our customers, team members, founders and partners for their continued support, and Warburg Pincus, Icon Ventures and our investors for their partnership. We are confident that together with GrowthCurve, we can leverage the strength of the Duetto brand to achieve our ambitious growth goals and drive the future of hospitality technology.”

Matthew Popper, head of technology and information services investments at GrowthCurve, said, “Duetto is a leader in the fast-growing revenue management software market with a differentiated solution that helps clients harmonize data and manage decisions at scale. We look forward to partnering with David and the rest of the management team to accelerate Duetto's growth and apply GrowthCurve's capabilities in data science and AI to further enhance the solution's value proposition to clients.”

Sim Allan, vice president at GrowthCurve, added: “Duetto is uniquely positioned to accelerate the adoption of advanced analytics and AI in the hospitality sector, enabling clients to unlock the value of their data to all stakeholders and improve guest experiences. We're excited to partner with David and the industry-leading Duetto team to continue delivering innovative software solutions to the hospitality sector.”

“It has been an honor and a pleasure to partner with Duetto over the past seven years. Ash Somani and Parag Gupta, managing directors at Warburg Pincus, credit Duetto's relentless focus on customer satisfaction as the key to its success. Under David Woolenberg's leadership, Duetto has built an incredibly talented team that we are confident will continue to thrive in its next phase of growth.”

Jefferies LLC acted as lead financial advisor, William Blair acted as advisor and Orrick, Herrington & Sutcliffe LLP acted as legal advisor to Duetto. Houlihan Lokey acted as exclusive financial advisor and Davis Polk & Wardwell acted as legal advisor to GrowthCurve.

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