myDigitalOffice Receives Strategic Investment From Cove Hill Partners
Posted by mdo on January 26, 2022 in Company
BETHESDA, Md. and BOSTON, Jan. 19, 2022 — myDigitalOffice, a leading provider of software to hotel brands, operators, and owners, announced today that it has received a strategic investment from Cove Hill Partners (“Cove Hill”) to support the company in its next phase of growth.
The investment from Cove Hill will position myDigitalOffice 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 provide even more value to hotel owners, managers, and brands around the world.
“Growing top line revenue while also optimizing the hotel’s bottom line is becoming increasingly difficult,” said Ali Moloo, Founder and CEO of myDigitalOffice. “Our customers rely on MDO to deliver their daily hotel performance data, and supporting documents, in a way that’s easily accessible and digestible, actionable, consistent, and accurate. Our tremendous growth, especially through a global pandemic, is a testament to our incredible people, customers, and partners.”
“We’re thrilled to welcome Cove Hill as our newest partner as we enter into this exciting next chapter. And given their reputation and successful track record of being incredibly disciplined and selective investors, we’re honored and humbled to join the family,” Moloo continued. “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 hotel performance and information connectivity.”
“Cove Hill is excited to partner with the myDigitalOffice management team for this next phase of growth. myDigitalOffice’s software facilitates data-driven forecasting and decision-making, while also digitizing and automating processes to drive efficiencies and ensure regulatory compliance,” said Jane Levy Vance, Principal at Cove Hill. “We believe our investment will allow myDigitalOffice to drive continued product innovation, while fueling significant future growth.” Continued Justin Roberts, Co-Founder and Managing Director at Cove Hill.
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.
myDigitalOffice (MDO) is a holistic information management platform, designed specifically for the hospitality industry, providing hotel owners, operators, and brands 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 reach greater levels of productivity, ensure regulatory compliance, and reduce their hotels’ carbon footprint, all while optimizing profitability. Learn more at www.mydigitaloffice.com.
About Cove Hill Partners
Cove Hill Partners is a long-term oriented investment firm focused on partnering with outstanding management teams to build market-leading technology and consumer companies. The firm manages long-duration funds with over $2.5 billion of commitments from its investors and founders. The firm 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, concentrated, and value-add approach in a small portfolio of long-term investments.