CHICAGO, IL – June 18, 2019; City Capital Advisors (“CCA”), a leading results-driven boutique investment bank serving middle market companies, announced today that it acted as exclusive financial advisor to Chicago-based BCV Social, LLC (“BCV”) in connection with BCV’s merger with RateGain Technology, Inc., headquartered in Noida, India, a suburb of Delhi. BCV, a tech-enabled business services company, is the leading global provider of a comprehensive bundle of 24/7 social media monitoring, reputation management, content creation/marketing, and industry analytics/reporting solutions for the hospitality industry, while RateGain is a global leader in online hospitality and travel industry technology solutions including a broad array of industry-leading SaaS products. As a result of its merger with RateGain, the combined companies will now offer a comprehensive Guest Experience Cloud platform with an expanded arsenal of proprietary digital products and social media services designed to increase its customers’ direct sales, provide unparalleled interactions with their guests over leading social platforms, continuously monitor and enhance guest experiences via social media – all geared to help hotel and resort clients maximize the loyalty and lifetime value of their guests. The merger will help RateGain unlock revenue opportunities across its vast customer bases including hotel and resort chains, airlines, car rental operators, OTAs, cruise lines, travel package providers, and vacation rental operators. The new Guest Experience Cloud platform will include the power of BCV’s social media capabilities and RateGain’s AI-driven cognitive revenue management and smart distribution solutions.
“The new integrated platform will give 125,000+ hotel properties access to millions of BCV’s proprietary social profiles to serve the right messages, to the right guests, on the right channels, every day, thereby elevating hospitality and travel brand experiences for guests and travelers across the research, plan, book and experience journey,” explained Benji Greenberg, CEO of BCV
Commenting on the acquisition, Bhanu Chopra, Founder and CEO of RateGain, said, “We are delighted to welcome BCV’s founders, Benji, Ari and Cece, together with the entire BCV team into the RateGain family. This significant merger expands and elevates RateGain’s commitment to be the leader in hospitality and travel industry technology solutions.”
For the past seven years, BCV has relied on the capital raising and corporate finance advice of City Capital’s team led by Scott Lang and David Modiano. Starting in 2013, and again in 2015 and 2016, CCA advised BCV on critical raising capital initiatives to sustain its growth as well as numerous other financial matters. “We are very grateful for City Capital’s unusual and sustained dedication to our Company and for its guidance through this successful merger process,” said Benji Greenberg.
About RateGain Technology, Inc.
Founded in 2004 by Bhanu Chopra, RateGain’s expertise in innovating solutions for the dynamic travel ecosystem has resulted in continuous growth and an established position as a thought-leader and trendsetter in the industry. Through its own strong leadership and the guidance of TA Associates (a minority investor in RateGain), RateGain now has over 600 employees and boasts over 12,000 hospitality and travel industry clients worldwide.
About BCV Social, LLC
Founded in 2010 by Benji Greenberg, Ari Greenberg, and Cece Novotny, BCV is the leading provider of comprehensive tech-driven Social Media Management (“SMM”) solutions specifically designed for the upper and middle segments of the vast global hospitality industry. BCV’s unique bundle of SMM solutions delivers measurable ROI to hospitality clients by driving higher volumes of social media participants to their sites and proactively converting a greater number of those interactions into sales, while also enhancing guest loyalty and on-property experiences, and mitigating potentially negative social media interactions. The Company’s clients operate under most of the elite brands in the hospitality industry. BCV remains the only provider with the capacity and trust to monitor and manage the social media platforms of premier hospitality clients 24 hours a day, 7 days a week, 365 days a year.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results-driven investment banking advisory firm. Each of City Capital’s Managing Directors has more than 25 years of investment banking experience, offering clients judgment and transaction management expertise honed from successfully executing more than 500 merger & acquisition and capital raising transactions, collectively, over their professional careers. Our client engagements are managed exclusively by experienced senior investment bankers, allowing our business owner clients to realize maximum value for their companies, often exceeding their original objectives.