UK: Private equity fund manager Calculus Capital has invested £3.5 million in Avvio, a provider of website booking engine software to hotels and serviced apartments.
Founded in 2002 and based in Limerick, Dublin and London, Avvio
provides advanced booking conversion software, which is supported
by digital marketing and design services for hotels, hotel groups
and serviced apartments.
Richard Moore, investment director at Calculus Capital said: "We are very excited to be investing in Avvio. The true power of the Avvio platform comes from the combination of the hosted software with expert client service. The Avvio platform has the potential to transform the revenue and profits of hoteliers worldwide and we look forward to helping its expansion both in the UK and abroad."
Avvio CEO Frank Reeves said: "We look forward to working with Calculus Capital as we take Avvio to the next level. With a long list of clients already enjoying the significant increase in direct revenue that our platform and client services can bring, the time is right for us to take our offer to a wider audience."