N America News June 2017

NORTHAMERICANEWS / JUNE 2017 7 NEWS , Cloudbeds’ first in- stitutional round was led by PeakSpan Capital, and includes additional invest- ment from Nashville Capital, Cultivation Capital, ClearVision Equity, and TTCER Partners. The financing follows last year’s Series A round of $3.14 million, bringing the total investment to date to $20 million. “Cloudbeds brings the latest innovations in software to the hospitality industry - they are laser focused on championing the needs of independent hotel- iers and setting the standard for a fully integrated, best-in-class platform,” said Phil Dur, Man- aging Partner and Co-Founder at PeakSpan Capital. Matt Melymuka, Vice President and Co-Founder of PeakSpan added, “Great things happen when you combine focus with a truly visionary and excellent manage- ment team. We feel fortunate to lead this investment round and are looking forward to helping the company capitalize on its progress to date.” Founded in late 2012, Cloudbeds now has 102 employees world- wide with offices in San Diego, São Paulo, and Dublin. Their software now services tens of thousands of properties in 120+ countries. Together, they will provide clients comprehensive GRC solutions that combine a leading framework focused on strategy, process convergence and organi- zational change management with a leading GRC technology platform. “Increasingly, clients are facing unexpected risks from business, regulatory and political changes that take their focus away from growth, innovation and custom- er experience,” said Jonathan Deeks, head of Nasdaq BWise. “By aligning with KPMG, we can help business leaders strengthen how they manage risks across the organization.” Nasdaq’s BWise technology solutions and experience provide a unified GRC foundation to manage risk, compliance, policy, audits, vendors and information security. KPMG’s advisory ser- vices help clients against existing and emerging threats and risks by developing strategic frame- works where technology is a key enabler for success. “The new business landscape drives uncertainty at multiple lev- els within an organization. While unsettling, disruption provides an opportunity for transforma- tion,” said Salman Ali, Managing Director, KPMG. “Together with Nasdaq BWise, we can provide clients with tailored, technolo- gy-enabled solutions to manage risk and maintain a strong focus on getting, keeping and growing business.” The Nasdaq BWise solutions are based on the industry-leading BWise software application and are designed to empower clients’ decision making and drive more profitable and sustainable performance. KPMG will bring a comprehensive view of GRC to help organizations understand where and how they should im- plement Nasdaq BWise solutions to align with their organization’s business goals. Both KPMG and Nasdaq are rec- ognized GRC leaders with a long history of enhancements and implementation success. Nasdaq BWise also has been recognized as a leading GRC solution by industry analysts and has won industry awards for excellence. www.bwise.com www.kpmg.com/us/nas- daqbwise Cloudbeds develops software that is designed to help inde- pendent property owners and op- erators become more competitive by offering an integrated system that includes property manage- ment, channel management, and a commission-free booking engine. By offering everything in one software suite, Cloud- beds helps properties maximize occupancy while minimizing time spent on administrative tasks. In turn, this gives their clients more time to spend with their guests. In addition to offering a full soft- ware suite, the Cloudbeds chan- nel manager, myallocator, is one of the most popular standalone channel management solutions and is used by thousands of properties. “We have experienced incredible success over the last few years. Cloudbeds software is used by everyone, from boutique hotels to adventure hostels, in every part of the world. We are fueling the growth of travel businesses worldwide and helping millions of people experience all the world has to offer,” said Adam Harris, CEO of Cloudbeds. “We’re thrilled to have PeakSpan on board with us. As investors, PeakSpan has an incredible track record of building suc- cessful companies, and their insights will be especially helpful during our next phase of growth. PeakSpan and Cloudbeds share similar cultures and values - we both believe in building highly customer-centric companies, obsessing over product, and prioritizing company culture.” “We continually strive to build a better platform and we are excited that this new round of fundraising will also help us accelerate the release of new functionality,” added Richard Castle, President and COO of Cloudbeds. “Our platform ena- bles small lodging professionals to reach a global audience and we are looking forward to giving them more tools to help them successfully compete on a global scale.” www.cloudbeds.com www.peakspancapital.com Nasdaq’s BWise and KPMG Align to Provide Comprehensive GRC Solutions Nasdaq’s BWise, a global leader in enterprise governance, riskmanagement and compliance (eGRC), and KPMG LLP, the U.S. audit, tax and advisory firm, on June 20 announced a strategic alliance to help clients improve how they address risk and compliance challenges more effectively across their enterprise.

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