# Fornova

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fornova

- Industry: Software
- Headquarters: Yokneam Illit, Israel
- Website: www.fornova.com
- Total disclosed funding: $17M
- Latest round: Series B (May 2, 2017)
- Investors on record: 3

## About

Fornova is an innovative provider of business intelligence solutions for the travel and hospitality sector, focusing on enhancing operational efficiency and market insights for clients.Founded in 2010, Fornova operates out of Yokneam Illit, Israel. The company specializes in business intelligence for the travel and hospitality industry. Fornova was co-founded by Dmitry Babitsky and Michael Rubanovich. The company raised USD 17.00 mn in Series B funding in May 2017, led by DTCP Growth with participation from B-Flexion and JAL Ventures, bringing the total amount raised to USD 17.00 mn.Fornova specializes in providing advanced business intelligence solutions geared toward the travel and hospitality industry. The company's core products include Distribution Intelligence, Revenue Intelligence, and E-Commerce Optimization tools. These solutions enable hotels to enhance their market share by offering insights into competitive performance, optimizing digital distribution across various online travel agencies (OTAs) and metasearch platforms, and improving marketing ROI through targeted programmatic channels. Fornova's services are designed to address the challenges of occupancy risk and market visibility, allowing clients to analyze customer and channel segmentation effectively. The company's offerings are utilized by over 20,000 hotels globally, and they serve clients across diverse geographical markets, including North America, Europe, Asia, and Australia.Fornova's revenue model primarily revolves around subscription-based services tailored for the hospitality sector. Clients engage with Fornova through partnerships that facilitate access to its suite of business intelligence tools, which are vital for managing digital distribution and revenue strategies. The company structures its services in tiers, providing various levels of analytical capabilities and support based on client needs. Flagship products, such as Fornova Distribution Intelligence, are integral to the service offering, allowing clients to continuously monitor market dynamics and optimize pricing strategies. The company's established relationships with major global OTAs further enhance its revenue-generating capabilities, ensuring a robust transactional framework aligned with the needs of its customers.Fornova aims to leverage its recent funding of USD 17.00 mn from the Series B round to develop new products and enhance its existing offerings. The company is exploring expansion into new markets, including Asia and South America, by 2025. This strategic move aligns with its goal to increase market penetration and deliver additional value to clients. The recent financing will support product development and facilitate entry into these targeted regions, thereby strengthening Fornova's position in the global hospitality industry.

## Funding rounds

- Series B, May 2, 2017, $17M — DTCP, JAL Ventures, B-Flexion
- Series A, Oct 21, 2015 — JAL Ventures

## Investors

- JAL Ventures (https://capitalatlas.ai/funds/jal-ventures) — Series A, Series B
- DTCP — Series B
- B-Flexion (https://capitalatlas.ai/funds/b-flexion) — Series B