KEYPR, a Los Angeles based technology start-up announced today that it has raised $1.3M in seed capital to complete development and deployment of its cloud based software solution that promises to transform the hotel guest experience.
KEYPR provides a cloud-based management solution that integrates the hotel experience for both guests and hotel management through mobile technology. The system will allow guests to have instant mobile check-in/check-out capabilities, keyless entry via smartphone and the ability to schedule, order and track service requests such as cleaning and room service. Additionally, guests will be able to personalize their entertainment experience and access a directory of hotel services on-premises through an in-room tablet provided by KEYPR or using their smartphones. KEYPR joins established players in the hospitality industry that have built billion dollar businesses and are realizing savings of hundreds of millions by using technology to push self-service tools to consumers (OpenTable, Uber, Zipcar).
KEYPR offers hotels the ability to utilize a digital solution to enhance the guest experience, reduce the administrative burden on staff, improve operational efficiencies and increase revenue. Further, it allows hotels to proactively anticipate and address guest needs while offering management real-time access to operational metrics through an integrated dashboard. This kind of real-time business insight is not currently available to hoteliers.
The Company also announced the formation of its Advisory Board of hospitality and tech industry veterans including Richard Warnick, president and founder of hospitality advisory and asset management firm Warnick + Company; Yair Landau, a partner at the venture capital firm MK Capital which pursues investment opportunities in the digital media, digital production and gaming categories; and Mark Anderson, Chief Operating Officer of Gaikai.
“We’re thrilled that these experienced industry leaders have joined KEYPR’s advisory board. We’re grateful to Rich, Yair and Mark for their expertise and on-going contributions to help steer our expansion made possible through this round of funding to complete the initial version of the KEYPR product and deploy the solution to our hotel partners,” said Nizar Allibhoy, the Company’s Chief Executive Officer.
The hotel industry has not yet effectively developed technology solutions to meet the demands of Millennials, which is the most tech savvy and tech dependent generation in history. In the next few years, Millennials will make up roughly 40 percent of the U.S. population, and according to The Boston Consulting Group, they will account for half of all travel spending by the year 2020. KEYPR recognizes that this growing consumer base seeks personalization and connectivity in their hotel experience and has developed its solution to meet these demands.
Warnick states: “It’s pretty easy to get excited about this. We encounter a lot of new technology products in our consulting and asset management business and KEYPR is one of the most thoughtfully conceived products in terms of its consumer-centric approach and its ability to seamlessly integrate with so many existing technology platforms. It is the only one I’ve seen that is so functionally empowering for consumers and hotel management alike.”
Warnick has been involved in every aspect of the hotel industry, from operations and development to finance, brokerage and brand and business strategy. Prior to forming Warnick + Company, he was a principal at Laventhol & Horwath (L&H), an international accounting firm known for its expertise in the hospitality and real estate industries. He is also a principal in Montage Hotels & Resorts, a luxury hotel company which currently has five properties in North America. He is a past President and Chairman emeritus of the International Society of Hospitality Consultants (ISHC), a global organization of prominent hospitality consultants and is also a member of the Hospitality Asset Managers Association (HAMA). He sits on several boards and advisory boards including Trilogy Spa Holdings and Thayer Ventures, a venture capital firm focused on travel industry technology investments.
Before joining MK Capital, Landau served as Vice Chairman of Sony Pictures Entertainment and President of Sony Pictures Digital. During his 17-year tenure at Sony, he was integral in forming Sony Pictures Digital, which consisted of Sony Pictures Imageworks, Sony Pictures Animation and Sony Online Entertainment.
As COO, Anderson oversees Gaikai’s operations, marketing and business development. In 2012 he led the effort to close the Company’s $380M sale to PlayStation. Prior to joining Gaikai, he served as COO of Fox Mobile Group Inc. and CFO of Sony Pictures Digital where he oversaw finance, strategic planning and corporate development.
Keypr is redefining the guest experience at hotels worldwide. Our mission is nothing less than a whole new way to travel, taking advantage of new mobile technologies to deliver a superior hotel stay. We put guests in charge of what, when and how they want their hotel to meet their needs.
Keypr is looking for a world class technology team to put together a cutting-edge, service-oriented system. We are building the next-generation hardware and software platform for the hotel & hospitality industry. We are looking for brilliant and versatile engineers who know the technology landscape and can craft simple and creative solutions. If this sounds like a challenge you would want to take on, please send us your resume for consideration!