Minneapolis, MN – October 30, 2024– StayNow, a platform focused on supporting independent hotel owners, announced today that it has raised $2.2 million in seed funding. The round was led by Fountane, Minnesota based venture studio, with participation from UXReactor and Founders Romal Jayswal and Siddharth Raj. This funding represents a significant step in helping family-run hotels navigate the challenges of a rapidly changing industry.
StayNow, founded by Saawan Patel, Siddharth Raj and Romal Jayswal stems from Patel’s personal experience growing up around motels operated by his family. Independent hotel owners often face pressure from larger corporate brands and the rising costs of maintaining their businesses. StayNow’s mission is to provide these owners with a platform designed to ease operational challenges without the burdens of excessive fees or restrictive terms.
Talking with Times of Startups, Saawan said “Independent hotel owners have long been underserved by existing technologies, which often cater to large corporations or come with prohibitive costs. Our mission at StayNow is to bridge that gap by providing innovative, cost-effective solutions that allow these businesses to modernize and thrive in an increasingly competitive market while also providing an incredible experience for travelers. ”
“We’re deeply grateful to UXReactor, Fountane, early investors, and the entire StayNow team for their dedication. Partnering with Fountane has been instrumental in helping us scale StayNow’s platform with the speed and precision needed to address the unique challenges faced by independent hotels. Their expertise in building and scaling tech ventures gives us the strategic advantage to accelerate our vision and make a lasting impact in the industry.” he added.
The new funding will be used to continue refining the platform and increase marketing efforts, including collaborations with influencers and paid advertising campaigns. StayNow also plans to market directly within participating hotels, engaging with both owners and travelers.
StayNow’s partnership with UXReactor and Fountane ensures the platform is built on a foundation of scalable technology, designed to accommodate long-term growth while providing the tools needed for independent hotels to remain competitive.
About StayNow
StayNow is dedicated to providing independent hotel owners with the tools they need to compete in today’s market. The platform offers a user-friendly experience that helps streamline operations, reduce costs, and ensure that family-run hotels can continue to offer authentic, locally-driven travel experiences.
For more information about StayNow, visit StayNow.com.
About Fountane
Fountane is a dual-powered venture studio and product lab. Founded in 2017, Fountane is a global technology delivery partner and a venture studio headquartered in Minneapolis, Minnesota with a global office in Hyderabad, India. Fountane accelerates digital transformation with cutting-edge software and AI solutions that help the earliest-stage startups and the largest corporate IT organization go further faster. Fountane’s venture studio arm fuels innovation by partnering with visionaries and corporate joint ventures, investing in high-potential opportunities with market distribution advantages. Both of these strategies together equip Fountane to not just build software, but build the businesses of the future.
