Corporate travel technology startup Spotnana has secured $75 million in its Series B round of funding. The company will use the money to fast-track hiring and drive more rapid adoption of its travel-as-a-service platform.
Cloud-based travel technology provider Spotnana has announced that it has secured $75 million in a new funding round. Durable Capital Partners LP led the Series B round. The platform, which Sarosh Waghmar and Shikhar Agarwal founded, has raised more than $100 million in only two years, more than tripling its staff to over 200 individuals, the bulk of whom are based in Bengaluru, Pune, and Mumbai.
CEO Waghmar stated, “Large hurdles stand between suppliers and customers because of the infrastructure that has been in place for years. We offer an open platform so that the whole travel industry may collaborate to offer unmatched travel experiences.”
Existing investors Madrona Venture Group, Blank Ventures, ICONIQ Growth, and Mubadala Capital took part in the most recent round. With the additional capital, Spotnana will be able to increase recruiting and hasten the implementation of its travel-as-a-service platform, which offers businesses, suppliers, and technology firms a single cloud-based technology stack.
According to CTO Agarwal, “We’re assembling experts from Microsoft, Google, and other digital giants to construct a new, high-performance travel infrastructure that makes use of enormous data volumes and artificial intelligence to handle hundreds of millions of travellers annually.”
By enabling everyone to gain from the power of cloud computing, microservices, an open platform, and open application programming interfaces (APIs), Spotnana is speeding innovation throughout the travel industry, he continued.