myDigitalOffice Secures Strategic Investment to Further Develop its Hotel Information Management Capabilities |
Hotel information management solutions provider myDigitalOffice has received a strategic investment from Cove Hill Partners to support the company in its next phase of growth.
Cove Hill’s investment will allow myDigitalOffice, a leading provider of software for hotel brands, operators and owners, to continue its strong growth trajectory and leadership. Cove Hill’s financial commitment will support product innovation and development, enabling myDigitalOffice to expand its product and feature set to deliver even more value to hotel owners, managers and brands worldwide .
“Increasing revenue while optimizing hotel bottom line is becoming increasingly difficult,” said Ali Moloo, Founder and CEO of myDigitalOffice. “Our clients rely on MDO to deliver their daily hotel performance data and supporting documentation in a way that is easily accessible and digestible, actionable, consistent and accurate. Our tremendous growth, particularly through a global pandemic, is a testament to our amazing people, customers and partners.”
“We are delighted to welcome Cove Hill as a new partner as we enter this exciting next chapter. And given their reputation and success as incredibly disciplined and selective investors, we are humbled and honored to join the family,” continued Moloo. “This investment will greatly benefit our customers by fueling our hiring plans, accelerating our product development and innovation initiatives, and solidifying MDO’s position as the hospitality industry’s de facto standard for performance.” hotels and information connectivity.
“Cove Hill is thrilled to partner with the myDigitalOffice leadership team for this next phase of growth. myDigitalOffice software facilitates data-driven forecasting and decision-making, while digitizing and automating processes to improve efficiency and ensure regulatory compliance,” said Jane Levy Vance, Principal at Cove Hill. “We believe our investment will enable myDigitalOffice to drive continued product innovation, while fueling significant future growth.” Continued Justin Roberts, co-founder and CEO of Cove Hill.
myDigitalOffice (MDO) is a holistic information management platform, designed specifically for the hospitality industry, providing hotel owners, operators and brands with a single point of access to their hotels’ most critical performance data. MDO’s cloud-based data dashboards, document management technology and integrated data feeds enable hoteliers to achieve higher levels of productivity, ensure regulatory compliance and reduce footprint carbon footprint of their hotels, while optimizing profitability.
Cove Hill Partners is a long-term investment firm focused on partnering with exceptional management teams to build market-leading consumer and technology companies. The firm manages long-term funds with more than $2.5 billion in commitments from its investors and founders. The company was founded in 2017 by seasoned private equity investors to invest their personal capital alongside a small group of like-minded investors. Based in Boston, Cove Hill has an innovative structure that provides the flexibility to enable a patient, focused and value-added approach to a small portfolio of long-term investments.
Silvermark Partners LLC served as financial advisor and Gibson Dunn served as legal advisor to myDigitalOffice. William Blair & Company LLC acted as financial advisor and Choate, Hall & Stewart LLP acted as legal advisor to Cove Hill Partners.
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