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Last updated on April 20, 2014 at 0:02 EDT

CloudArena Announces $1.5 Million Investment to Move Hospitality Industry Online

July 3, 2013

ISTANBUL, July 3, 2013 /PRNewswire/ –

Hospitality cloud software startup, CloudArena, raises $1.5 Million from
Aslanoba Capital and 212 Capital Partners to digitize accommodations and travel agencies

worldwide

CloudArena, founded in late 2011 by Ali Beklen, Arden Agopyan and Tolga YalcInkaya,
continues to bolster its funding structure and shows a rapid growth. The company is the
creator of HotelRunner, a cloud based property, online sales and digital marketing
management platform for hotels, and accommodations of all sizes.

CloudArena has raised a $1.5 million early stage funding round led by Aslanoba Capital
with participation from 212 Capital Partners, the Company’s seed investor. The additional
capital coupled with revenue from the platform will accelerate the company’s growth and
innovation. The company will also increase the number of talents and perform acquisitions.

Speaking about the latest funding round, Arden Agopyan said: “We are going to use this
investment to enhance our productivity and increase the quality of our services to boost
the sales and marketing competencies of our worldwide customers.” CloudArena’s global
services receive a high demand from hotels, daily rentals and travel agencies from around
the world. In the last 6 months, the company helped increase the online presence and sales
for more than 1,250 properties in more than 80 cities in over 30 countries. The team
targets to double the number of customers until the end of this year.

Lodging industry and travel agencies used the low cost and easy-to-use online services
of CloudArena to achieve a 7 fold increase in their online reservations with the help of
the offered social promotion capabilities. In the same period, occupancy rates of the
hotels increased by 27%. Properties reached numerous potential guests from all over the
world with the help of multilingual content support, connections with international online
booking channels and integrated online marketing tools. They also received real-time
bookings and online payments through their own web sites, online travel agencies and
social platforms using the infrastructure provided by CloudArena.

About CloudArena:

CloudArena, founded in late 2011 by Arden Agopyan, Ali Beklen and Tolga YalcInkaya, is
an innovative technology startup offering global solutions for the hospitality industry
simplifying and socializing online sales and digital marketing management for hotels and
travel agencies. CloudArena focuses on cloud services and transforms the hospitality
industry by moving accommodations and travel agencies from offline to online.

        For further information:
        Contactplus+ Ileti  im Hizmetleri
        Baykan CallI
        baykanc@contactplus.com.tr
        Tel:  +90-0(212)229-76-26
        Fax:  +90-0(212)229-95-25

SOURCE CloudArena


Source: PR Newswire