Pricepoint, an artificial intelligence (AI)-driven revenue management platform for the accommodations sector, has closed a $6.6 million seed funding round. Brightspark Ventures led the investment with participation from Boreal Ventures and AQC Capital.
Founded in 2019, Pricepoint provides a technology platform for hotels, hostels and short-term rental providers. It enables continuous analysis of demand, bookings, cancellations and market dynamics to automatically update prices in real time.
The technology works with 100+ tools hospitality providers already use, including recent integrations with Eviivo, OpenHotel and Apaleo.
The company said the funding will be used to invest in product and engineering, to strengthen its AI infrastructure and to add additional integrations.
Pricepoint will add two members to its board as part of the round: Sophie Forest, managing partner at Brightspark and JD Saint-Martin, managing partner at Boreal Ventures and former president of Lightspeed Commerce. Forest’s previous investments include Hopper.
“Pricepoint is addressing a clear and growing need in hospitality,” said Forest. “The company has built a strong foundation with customers globally, and we are excited to support the team as they continue to expand the platform.”
The funding comes as hotels and other accommodations providers look for ways to leverage AI to improve performance, with some companies reporting measurable gains after implementing AI-powered pricing systems.
Pricepoint said in a blog post the company believes the revenue management category is "entering a structural shift” and it is building technology to lead the transition.