California, the U.S.A-based provider of a hotel tech stack, Canary Technologies, raised USD 30 million in recent funding. The Series B round took place on October 27, 2022. Insight Partners led the financing for the firm. Meanwhile, F-Prime Capital, Y-Combinator, Thayer Ventures, and Commerce Ventures joined in the investment.
The recent funding brings the total amount raised by the firm so far to USD 45 million.
Purpose of funding for Canary Technologies
Canary Technologies aims to accelerate the modernization of guest-facing technologies at hotels worldwide. The additional proceeds from the Series B round will aid in expanding the team to keep up with customer demand globally.
Meanwhile, the company has plans to enhance the platform’s solutions.
What the company’s official has to say
Harman Singh Narula, Co-founder of Canary Technologies, said, “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. 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.”
In addition, SJ Sawhney, Co-founder of Canary Technologies, said, “Over the past few years, we’ve seen hoteliers everywhere proactively seek out the guest-facing technology solutions Canary provides. 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 accelerate further 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.”
What the investors have to say
Gaurav Tuli, Partner at F-Prime Capital, said, “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.”
In addition, Thomas Krane, Managing Director at Insight Partners, said, “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. This is a testament to the best-in-class solutions Canary provides to hoteliers. They look to meet the digital experiences that modern guests demand. We’re very excited to partner with Harman, SJ, and the entire Canary Technologies team. We intend to support their growth as they help drive technology in hospitality forward.”
About the company
Harman Singh Narula and SJ Sawhney, long-time friends and industry veterans, co-founded the company in 2017. The company offers a wide range of products that cater to the specific needs of the hoteliers, such as Contactless Check-in, Contactless Checkout, Guest Messaging, Digital Upsells, Digital Tipping, Digital Authorizations and Digital Contracts. Thousands of hotels in more than seventy-five countries use Canary Technologies’ platform.
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