|By Business Wire||
|February 26, 2013 07:02 AM EST||
OpenBook.net, a Yellowstone Hotel Systems company, received investment from Accelerate Ventures, LLC, marking AV’s first hospitality industry investment.
Zack Paul, OpenBook’s CEO, states, “Accelerate Ventures picked a perfect time to invest in OpenBook as new international business is forthcoming, and we look to expand our technology portfolio to better serve our clients.”
The new funding will also allow the company to manage ongoing trials and market its solution to a larger worldwide audience. Accelerate Ventures also brings with its investment a strategic relationship that will help OpenBook grow, protect its customer base, and take advantage of new opportunities that OpenBook is currently facing.
“We felt that an investment into OpenBook was a wise decision for our investors as well as opens the door for AV to expand into the technology services industry for hospitality,” says Isaac Jacobson, manager of Accelerate Ventures.
OpenBook offers computer and Internet property management systems for the hospitality industry. These applications control, distribute, dynamically price, and book room inventory through multiple channels including Internet travel websites, online booking engines, the Global Distribution System, and OpenBook call centers. OpenBook also offers full-service web marketing solutions, live customer support, and call center travel consulting.
About Accelerate Ventures, LLC
Accelerate Ventures, LLC is the first “cash flow VC” allowing investors to fund then profit from its patent portfolio licensing engine in the Media, Mobile and Retail Marketplace while also building in the benefits of equity exits. AV creates a dynamic, accelerated path to portfolio monetization.