As the old saying goes “Necessity is the mother of invention”, and that’s exactly how Nor1 came to be. Founder Art Norins based the original concept for Nor1 on his own experiences in traveling as a business executive. He noticed numerous upgraded rooms and suites went unused at hotels night after night, and that many travelers wished they had taken advantage of better rooms and services. So he created and patented the process of monetizing that unsold inventory and matching it with travelers who would be willing to pay a reduced price for it upon check-in. Thus Nor1 and its patented eStandby Upgrade® were born; giving companies with perishable inventories (such as hotel rooms) the ability to add bottom-line value.
Today Nor1 is an innovative hyper growth company headquartered in Silicon Valley managed by seasoned entrepreneurs. The company is well funded and its lead investors include Goldman Sachs, Otter Capital, PAR Capital and Accel Partners (#1 rated VC firm globally by Red Herring and Facebook investor).