Jurny's Massive Growth in STR AI Space

The Offer Sheet readers —

We are thrilled once again to be sitting down with Jurny CEO / founder Luca Zambello, the tech platform that’s using AI to change the game for STR hosts and operators.

This is our third time chatting with Luca. We believe what he and Jurny are doing is revolutionary in our space and are grateful for his time in sitting down again and providing such in depth answers! We think you’ll enjoy it.

We last spoke to Luca in September 2023 and had an overwhelming response back then from our Q&A.

We’re glad to have him back - this time we discussed how much Jurny has grown even since our last chat, their ideal user profile, what a future exit looks like, competition, AI, and the opportunity to invest for you all - subscribers to this newsletter!

Let’s Go! 👇

How have things been with Jurny? I’m curious the type of feedback you are getting from customers given it seems that demand for your product continues to surge?

It's great to be back, and thank you for having me again! Since our last conversation in September, we’ve had the opportunity to reflect on the monumental year that was 2023.

Firstly, our user base skyrocketed by 625%! Customers are experiencing immediate results with Jurny, leading to increased platform usage and organic growth. Additionally, word of mouth seems to be amplifying our reach. Our Net Promoter Score, a key indicator of customer satisfaction and loyalty, has surged to 60.

Also very cool, Capterra and Software Advice, two highly-respected software review companies, recognized Jurny as one of the top Vacation Rental Software solutions on the market. The reviews praised our AI capabilities, user-friendly interface, and extensive customization options. One highlighted comment read, “Overall, I have nothing but good things to say about the platform. It's been a game-changer for my team. If you're looking for a property management tool with a robust Airbnb integration and AI, this is it.”

This high level of customer satisfaction has been pivotal in driving our growth and expanding our market presence.

What did growth end up looking like for 2023, and where do you project it for 2024?

In addition to our unprecedented user growth, in 2023, we processed more than $35 million in bookings and now have thousands of units on our platform in over 250 cities across the globe.

Based on last year’s numbers and the increased appetite we’re seeing in the market, we anticipate conservatively a 2-3X growth on our core SaaS products for 2024. 

What are the top 2 or 3 priorities from a product perspective in 2024?

This year, we have three priorities:

1. Continue to optimize and improve product usability and accessibility. We originate from an overly complicated industry from the tech perspective, and Jurny's number one vision has always been to simplify life for property managers by streamlining and automating everything from operations to the tech stack. This year, we are deepening integrations with partners like VRBO to create an instant onboarding experience just like we did with Airbnb, improving overall UI/UX and launching many updates with completely redesigned features, like a brand new reporting dashboard, a new and improved AI inbox with far superior capabilities than the current one, and way above the rest of the industry, just to name a few.

2. Launching completely new features and products, like our guest mobile app coming in Q2 and our latest game-changing AI tool, Nia co-pilot. Two very important products are designed to increase hosts' productivity and convenience dramatically. Nia co-pilot will completely rethink how managing software operates and has been used until now, not just in our industry but across all sectors, making it one of the most exciting products coming out this year. You will learn a lot more about Nia co-pilot soon.

3. Last but not least, and maybe goes unsaid by seeing what Jurny has already delivered and by reading the above, is our focus on AI. If properly leveraged, we genuinely believe this technology will reshape every industry, and we have the privilege of being at the forefront with a team of rare experts who allow us to be on the edge of innovation. What we are seeing is far more than impressive; this tech is not an "in 5-10 years" tech; AI is now, and we will see massive innovation starting already this year. You are making a big mistake if you are not looking into AI today.

Is the average STR host with one or two units intimidated with AI software like yours, or enthused about the potential to scale, given efficiencies? Does your average customer see the big picture opportunity for them to scale their business, using your tools and/or AI generally?

It is very interesting because whenever there is a new technology with significant potential; initially, only a small group of enthusiasts are extremely excited by its potential. That's usually 5% to 10% of an industry, and the remaining 90%+ are either very skeptical or sitting on the sidelines and watching. That usually happens until the early adopters have some type of significant benefit compared to the masses. When that happens, you see the remaining 90% rushing to adopt the same technology the early adopters are already experts in. The thing is that 10% has the first-mover advantage and will have huge advantages against the remaining 90%.

We are definitely in the early adopters phase with AI, especially in hospitality. The majority of our customers, about 80% of them, are not really leveraging the power of AI yet; even though many of the automation that they are using are AI-powered, they are not taking the time to leverage what we are offering fully, and they are using Jurny simply because it's a great product that unified many different solutions into a single platform in an easy-to-use vertically integrated system.

But the remaining 20% who have actually spent the time to learn the technology and are correctly using it are seeing massive value, with reported increases in efficiencies by over 80%. Those are some mind-blowing numbers; we are just at the beginning. Within the next couple of years, properly AI-leveraged management companies will be able to be 3-4x more profitable and efficient than your typical management companies. This is what will force the remaining 90% to really pay attention, and that's when the fun begins. And Jurny will simply be perfectly positioned for this drastic change. And to answer the question about the hosts' size, AI will massively improve efficiency, scalability, and profitability across every scale, from a single unit host to extensive operations.

Can The Offer Sheet subscribers still invest today? Any perks for our readers?

Absolutely! After the huge success of our last round, we decided to launch a new raise that is now live. Anyone interested in exploring our investment opportunity is encouraged to visit our investment page on StartEngine. 

For Offer Sheet readers, investments made before March 7 qualify for up to 20% bonus shares in addition to their initial investment.

Last time we spoke, I asked about a potential exit. You mentioned the goal would be to go public. Is this still the case, given we’ve already seen some M&A in the STR / AI space, with Airbnb acquiring GamePlanner.ai in November. What does that mean for you?

Our vision remains unchanged. The recent acquisition by Airbnb of GamePlanner.ai for $200 million definitely demonstrates that the STR and AI sectors are ripe for consolidation and innovation, signaling strong market interest in AI-driven solutions like ours. 

Jurny's development and integration of advanced AI technology, notably Nia, coupled with our partnerships with leading platforms, place us in a strong position within this evolving landscape. We are not only aligned with but also driving the industry's shift toward more technologically integrated hospitality solutions.

All of this is great news for the industry at large, as well as for our team, customers and investors.

In addition to having developed game-changing technology, the IPO market for innovating AI companies will be one of the hottest markets the economy has ever seen, hotter than the .com era. Many AI companies will be industry-changing, and if you can invest in the correct one, it will be like investing in Amazon, Facebook, or Google when they were early-stage startups. This is a once-in-a-lifetime opportunity for both companies and investors, and we can’t wait to see the next couple of years unfold.

I’ve asked this before, but for our new subscribers, how are you differentiated from the likes of Guesty and Homeaway? Do you see some of the legacy platforms / tools becoming less prominent in coming years given the possibilities with AI automating so much in the space?

Our edge comes from our advanced artificial intelligence, Nia, which is tailor-made to tackle the complex challenges of our industry, offering up to 80% improvements in guest communication efficiency. Unlike Guesty and Hostaway, which operate with an outdated, fragmented marketplace approach, Jurny is modern, digital-first, and streamlined. We focus on vertical integration, making our system more connected, efficient and scalable. 

Simply put, as AI continues to evolve and automate complex processes, legacy platforms that don’t have our level of vertical integration will become obsolete.

When we decided to start building Jurny, AI and data unification were not our second thought but our first. That alone will play a massive role in the near future.

Why is investing in private AI companies like Jurny appealing compared to traditional public tech giants?

I’m not sure if you’ve heard all of the buzz around Nvidia’s growth, but they are currently valued at nearly $2 trillion, having added the value of Tesla to its market cap in just six weeks. It’s insane, and that showcases the market power of AI. 

Conversely, this surge in Nvidia’s value and the fact that the only publicly traded AI companies are tech giants have made regular investing in the stock market unattractive for many. With most public companies involved in AI, like Google, Meta, and Nvidia, already valued at over a trillion dollars, finding an entry point for significant profit can seem daunting. That’s why savvy investors are looking elsewhere and investing big in private companies. That is where, at least in the short term, the most significant opportunities will be. That is why Jurny has decided to capitalize, and even though we have access and backing from top-tier VCs, we decided to also raise money directly from private investors and launched our second crowdfunding.

I’ve followed you guys on Wefunder during previous raises on the platform, and I’m truly impressed with the level of detail and insight you personally provide into your business. I’ve seen few others answer each question so thoroughly. If someone wanted to invest big dollars and maybe ask for financial statements, etc. could they reach out to you directly?

Absolutely, and first off, thanks so much for the kind words and for following our journey. It's been quite the adventure, and having supporters like you and your readers makes all the difference.

Regarding investing and getting a closer look at our financials – yes, by all means. We're all about transparency here at Jurny. If you're considering making a significant investment, we definitely want to provide you with all the information you need to feel confident in that decision. 

You can reach out to [email protected], and my team will put you in direct contact with me.