Hospitality tech startup raises £1.3m to combat last-minute “cancellation culture”
Ambl, a new platform set to “transform and build recovery” for the hospitality industry by matching people with real-time availability, has successfully completed its third pre-seed funding round by raising £700k. Total investment since June 2021 now stands at £1.3m.
Due to officially launch across London in September 2022, the pre-seed investment will accelerate product development and test the beta product during its soft debut across Chelsea and surrounding areas in August 2022.
Since July 2021, Ambl’s team of three co-founders has grown by 400 per cent. The funds raised will accelerate team growth further including the appointments of a head of customer experience and an advisory chief technology officer.
Data from Zonal and CGA suggests that people who do not turn up to reservations made at pubs and restaurants are costing the sector £17.6bn a year. Ambl’s mission is to combat the current loss in revenue and footfall within hospitality venues by filling empty seats that arise from last-minute or same-day cancellations.
Aaron Solomon, CEO, and Co-Founder of Ambl, commented: “The past two years have been incredibly tough for the hospitality industry.
“From unprecedented staff shortages and supply change issues to a growing trend in last-minute cancellations as consumer confidence falters, it’s mission-critical that solutions are available to help an industry we know and love, thrive again.”
Serial entrepreneur, chairman, and lead investor at Ambl, Mark Gordon added: “The concept of Ambl was something I could easily relate to.
“There was no doubt in my mind, it was a great idea, however, I could see some challenges they would have to overcome with venue adoption and of course the usual pitfalls that exist such as developing succinct messaging when educating consumers in a new marketplace.”
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