Partech et al. back Pricematch with €1m

The firm's Partech Entrepreneur vehicle, a seed fund focused on tech investments in France and the Silicon Valley, closed on €30m in October.

Partech invested in the company alongside an unnamed family office and Tekton Ventures, a San Francisco-based seed-stage venture capital firm.

The funding provided by Partech will allow Pricematch to develop additional services, as well as strengthen the market position of its existing software package.

The investment by Partech marks Pricematch's first round of funding. The venture capital firm followed the company for six months prior to investing.

Company
Founded in 2012, Pricematch is headquartered in Paris, with an additional office in San Francisco, and employs around 20 staff. The company has developed a software package for hotel managers that uses econometric algorithms to forecast demand. The algorithms are designed to give price recommendations to help hotel managers adjust room prices based on future demand.

The software collects real-time data, such as reservation history, weather forecasts, same-date flight prices and competitors' prices, to recommend price and distribution channels.

Pricematch claims that its software can increase revenue for hotel managers by 5-35%. The company also says that 200 hotels in France use its service.

People
Pricematch was founded by a group of French econometricians, statisticians and software developers, according to the company, namely Arthur Waller, Khalid El Guitti, Felix Blossier, Raphaël Théron, Tancrède Besnard and Quentin de Metz. Romain Lavault is a partner at Partech.

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