Wednesday, June 5, 2013

Zentila Raises $2.1 Mln in Series A Financing

Zentila said on Wednesday that it has closed $2.1 million in a Series A financing round. The lead investor was Vocap Ventures. Based in Winter Garden, Florida, Zentila is an online meeting planning platform.


ORLANDO, Fla. — Zentila, the first online sourcing, booking and tracking solution for meetings and conventions, today announced the closing of a $2.1 million Series A investment led by Florida-based Vocap Ventures.

“Zentila excited us as an investment for a variety of reasons,” said Vinny Olmstead, managing director of Vocap Ventures. “The technology is disruptive in that it automates and simplifies a fairly complex process. This has enabled the company to enter a fragmented market with a clever solution that has the potential to capture a significant portion of a multi-billion dollar industry.”

Founded in 2011 by hospitality industry veteran Mike Mason, Zentila provides meeting planning solutions for companies and individuals through a free-to-use, highly intuitive strategic meetings management solution. Since November, the company’s 1,500 corporate users have sent meeting requests with an estimated value exceeding $4 million. Hotels are enjoying close rates more than five times the industry’s average, making Zentila one of the most efficient RFP channels in the market today. Zentila was also recently chosen by Northstar Travel Group, the world’s leading business-to-business media company serving the travel and meetings industry, to offer its dynamic sourcing and booking platform on Northstar’sSuccessful Meetings andMeetings and Conventions online facility search.

“While we were approached by a number of venture capital firms, we opted to move forward with strategic investors who have deep experience in both the technology and hospitality spaces,” said Mason. “This new round of funding will enable us to further advance our offerings and continue to build market share.”

Other investors include Arsenal Venture Partners and venVelo, both of Winter Park, Fla., and Matt Avril, former hotel group president at Starwood Hotels and Resorts. Avril will also join Zentila’s Board of Directors.

“Un-bookable leads, or ‘RFP Spam,’ contributes to unproductive time for hotel sales forces globally,” said Avril. “ Zentila represents an ideal solution by helping hotels sell effectively while improving the experience and efficiency for meeting planners.”

“Zentila’s experienced management team is passionate about the meetings industry, and I share their enthusiasm for providing this new solution.” Avril said. “I am delighted to be a part of this dynamic group working to effect change in this critical way.”

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