OLSET bags $1.1 mln seed funds

OLSET said Friday that it has received $1.1 million in seed funding. The investors included Montage Ventures, Digital Garage and 500 Startups. Based in San Francisco, OLSET is a big data travel tech firm.

PRESS RELEASE

SAN FRANCISCO — May 16, 2014 — Founded by ex-Travelocity developers and a team from Google & other leading tech companies, www.OLSET.com (Pronounced All-Set), is pioneering personalized and automated hotel bookings. The OLSET team has spent the past 18 months categorizing data, tweaking algorithms and obtaining patents for their technology. Now, after raising $1.1 million in Seed funding led by investors including Montage Ventures, Digital Garage and 500 Startups, OLSET is launching new features, partnerships and a new website.
Herve Sedky, former SVP of Global Business Travel at American Express joined OLSET’s advisory board. When asked about his decision to join the OLSET advisory board Sedky said, “OLSET is powering the future of online travel booking. Using personalization and automation enables travelers to find the right hotel in a fraction of the time it used to take.” OLSET’s technology and algorithms match travelers’ preferences with hotels based on 40 million traveler sentiments. The recommendations include a match breakdown for each hotel and why it was chosen. When working with travel providers and productivity app providers, OLSET can automatically create a profile for each traveler by scouring a traveler’s past travel bookings and social media profiles. Perhaps the most exciting new feature OLSET is releasing is a feature they call Omnibooking. Powered by natural language processing Omnibooking allows travelers to book hotels via any medium they want. OLSET is initially powering booking using calendar invites and email and will add more channels including Twitter, Chat & Text in the near future. What this means is a traveler can get personalized hotel recommendations without searching at all. Simply email booking@olset.com or send OLSET a calendar invite including location and dates in email or calendar location field and you’ll receive personalized hotel recommendations instantly in your email inbox.
CEO and Co-Founder Gadi Bashvitz says, “Our goal at OLSET is to make travel booking better for everyone. We are excited that OLSET enables apps and travel providers to literally plug in to our technology and start generating revenue, while improving their users’ lives as well.” Currently OLSET is looking to partner with travel providers and productivity apps that are interested in offering a personalized booking experience to their users. OLSET recently launched a partnership with Any.do (www.any.do), a leading To-Do list app with over 9 million downloads. Any.do users can book hotels from within Any.do by adding a task to their to-do list. “We are seeing a 50% month over month growth in usage via our partners,” said OLSET’s Marketing Director Andrew Miller who recently joined the company after spending a number of years with startups in Dubai. OLSET also recently hired a few senior engineers to beef up the development team, hiring developers from Google and other tech giants. If you are interested in partnering with OLSET please contact partners@olset.com.
About OLSET: OLSET is a San Francisco based big data travel technology company and is the brainchild of Gadi Bashvitz, a frequent traveler, tech entrepreneur and big data veteran. After traveling 2.1 million miles in less than a decade Gadi realized that booking travel really wasn’t fast or easy by any standard. OLSET was created when Gadi teamed up with Amyn Sheriff, an experienced technologist and long-time travel expert to revolutionize the way travel is booked. OLSET is currently focusing on attracting partners from mobile apps to Online Travel Agencies to Travel websites.
To learn more about the company visit OLSET.com. Please connect to OLSET on Facebook, or follow us on Twitter.

Related Posts

Leave a Reply

PEHUB Community

Join the 12502 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

Psst! Got any hot tips?

  • This field is for validation purposes and should be left unchanged.

PE HUB News Briefs

RSS Feed Widget

Marketplace

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget