Cendyn, a provider of software solutions for driving sales and marketing performance in the travel and hospitality industry, announced it has received a growth equity investment from Accel-KKR, a leading technology-focused private equity firm. As a result of the new partnership, Cendyn will accelerate its investments in its existing product portfolio, new product innovation, and market expansion driving more value for its current and future customers. Terms of the investment were not disclosed.
Founded in 1996, Cendyn develops cloud-based software used by tens-of-thousands of hotels and resorts around the world. Cendyn offers two core product lines. Cendyn/ONE combines CRM with Data-Driven Digital Marketing in a single, fully integrated platform. This innovative solution delivers a centralized view of guest data that enables highly targeted communications across all digital media channels and throughout the entire guest lifecycle. Cendyn Arcaneo, provides an integrated platform for meeting planners, suppliers, and enterprises to plan, source, manage, and measure end-to-end meetings and events execution.
“For more than 20 years, Cendyn has found success by leveraging our deep travel and hospitality domain expertise to develop market leading products that meet the needs of our clients,” said Charles Deyo, CEO of Cendyn. “We are excited to be partnering with Accel-KKR. This partnership positions us to capitalize on the growth opportunities in the market and to accelerate our product innovation.”
“Cendyn has all the characteristics that Accel-KKR looks for in an investment: an industry-leading technology platform, a superior service delivery platform, proven market leadership demonstrated by a world-class client base and a talented management team,” said Rob Palumbo, Managing Director at Accel-KKR.
