Cendyn Expands Hospitality Solutions through Knowland Purchase
Cendyn Expands Hospitality Solutions through Knowland Purchase
In a significant development in the tech-driven hospitality sector, Cendyn has announced the acquisition of Knowland, a prominent leader in data-as-a-service insights focused on meetings and events. This strategic move is expected to enhance Cendyn's offerings and solidify its position as a leading global hospitality cloud technology company.
The Role of Knowland in Hospitality
Founded in 2004, Knowland has revolutionized the way hotels and event venues leverage data for their business needs. By providing robust analytics and insights, Knowland empowers its clients to optimize group business, ultimately leading to increased revenue. The platform boasts an extensive repository of market intelligence, drawing from over 7,500 hotels worldwide. As a result, Knowland has become an indispensable tool for hoteliers, offering actionable insights to accelerate the sales cycle and meet group sales objectives effectively.
Expanding Reach and Product Offerings
During Serent Capital's investment in Knowland, the company underwent substantial operational expansion, establishing itself as the foremost provider of meeting market intelligence in the hospitality arena. Notably, through strategic acquisitions, Knowland has broadened its service offerings, now featuring the largest historical database of actualized events in the industry, encompassing over 20 million events. This expansion is crucial for assisting clients in navigating the fast-evolving landscape of group sales.
As Lance Fenton, Partner at Serent Capital, highlighted, "It has been gratifying to partner with the Knowland team and support them in building their organization, executing key M&A initiatives, and honing their long-term strategy." His sentiment reflects the shared success story of Knowland's growth and innovation in market intelligence.
Serent Capital's Investment Strategy
Serent Capital, renowned for its growth-focused approach, has made its mark on the hospitality technology sector, having invested in over 15 companies in the last decade. The firm's commitment to nurturing founder-led businesses is evident in its hands-on operational support. This partnership philosophy has not only augmented Knowland's capabilities but has also led to significant industry advancements.
Looking Forward
With its reputation for championing innovation, Cendyn's acquisition of Knowland signals a future filled with potential for leveraging data-driven insights in the hospitality industry. As 2024 marks Knowland's 20th anniversary, the company stands poised to continue its legacy of excellence.
About Knowland
Knowland is widely recognized as a leader in providing data-as-a-service insights specializing in meetings and events within the hospitality sector. Its vast historical database of actualized events and the trust of thousands of customers exemplify its exemplary role in helping hotels sell smarter and maximize revenue.
About Serent Capital
Situated at the forefront of the B2B SaaS and technology investment landscape, Serent Capital prioritizes the needs of founders and their journeys. With a dedicated Growth Team comprising over 25 professionals, Serent provides the essential resources required for companies to drive innovation and revenue growth. With a robust portfolio exceeding 60 founder-led companies and $5 billion in assets under management, Serent Capital is committed to fostering innovation across various industries.
Frequently Asked Questions
What does the acquisition of Knowland mean for Cendyn?
The acquisition enhances Cendyn's data-driven solutions, expanding its capabilities in the hospitality technology sector.
How has Knowland impacted the hospitality industry?
Knowland provides valuable insights and analytics, enabling hotels to optimize group business and increase revenue effectively.
What is the significance of Knowland's database?
Knowland's extensive database contains over 20 million actualized events, making it a key resource for hospitality professionals.
What role did Serent Capital play in Knowland's growth?
Serent Capital supported Knowland's growth through investments, strategic initiatives, and operational guidance over several years.
Where can I learn more about Serent Capital's investments?
Serent Capital's website provides insights into their investment strategies and partnerships in the hospitality technology sector.
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