SuitePad Announces its Latest Round of Funding Led by Riverside Acceleration Capital

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BERLIN, Mar. 4, 2020, /PRNewswire=KYODO JBN/--

SuitePad [https://www.suitepad.de/] – the leading provider of in-room tablets

for the hotel industry – has announced the successful closing of its latest

round of funding.

The latest seven-digit round of funding comes from New York-based investment

group, Riverside Acceleration Capital (RAC), as well as current investors

Target Partners, IBB Beteiligungsgesellschaft, and Howzat Partners. With this

fresh investment, SuitePad will further its expansion into the European, Asian,

and US markets.

Jonathan Drillings, Partner at Riverside, commented: “We are impressed with the

work of the whole SuitePad team and it is very encouraging that so many hotel

chains have chosen to roll out their solution. With their momentum, team and

impressive technology, there is a real opportunity for SuitePad to transform

the hotel guest experience. This made the decision to invest in this category

leader an easy one.”

Berthold von Freyberg, Partner at Target Partners, added: “SuitePad has

successfully driven the development of the company and its products from the

original concept of a digital guest directory to a modern hotel room operating

system with key functionalities such as centralized room control, hotel room

telephone and TV solutions. We are proud to be part of this journey.”

Moritz von Petersdorff-Campen, Co-Founder and CEO at SuitePad, said: “We are

excited to have won the trust of Riverside and our existing investors to take

our business further. This latest round of funding will accelerate our growth

in the hotel industry across the globe. To enhance our position as the market

leader for in-room technologies, we will also be investing heavily in the

expansion of our software platform.”

About SuitePad

SuitePad [https://www.suitepad.de/] is Europe’s leading provider of digital

guest communication systems for the hotel industry. The Berlin-based company

was founded in 2012 and has a team of over 60 employees. In January 2020,

SuitePad was named HotelTechReport’s best guest room tablet and best place to

work in hotel tech.

SuitePads are tablets that are specifically designed for the hotel room. They

provide a centralized service that brings digital communication between

hoteliers and their guests to a whole new level. Apart from providing general

information about the hotel, its services, and the surrounding area, SuitePads

also serve as central booking tools for services such as hotel restaurants,

shops, and spas, and each one is integrated with an in-room telephone and TV

remote—helping to effectively declutter the hotel room and provide a modern

experience for guests.

SuitePad serves 1000 hotels across 30 countries, amounting to over 60,000 hotel

rooms worldwide. In addition to the in-room tablets, SuitePad also provides a

bring-your-own-device (BYOD) solution.

About Riverside Acceleration Capital

Riverside Acceleration Capital (RAC) provides flexible growth capital to

expansion-stage B2B software and technology companies, through an investment

structure that maximizes alignment while minimizing dilution. RAC is part of

The Riverside Company, a global private equity firm focused on investing in

growing businesses valued at up to $400 million. Since its founding in 1988,

Riverside has made more than 650 investments. The firm's international private

equity and structured capital portfolios include more than 90 companies. For

more information, visit: https://www.riverside.ac

About Target Partners

With €300 million under management, Target Partners is one of the leading

early-stage venture capital firms in Germany. Target Partners invests in seed

and early-stage technology companies and supports them with venture capital

during their build-out and expansion phases. With many years of experience as

managers, entrepreneurs and venture capital investors, the team at Target

Partners supports entrepreneurs in developing and marketing products and

services, building organizations, raising money and taking companies public in

Europe and the United States. For more details: targetpartners.de

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SOURCE: SuitePad