Cloud-based travel technology provider Spotnana said it had raised $75 million in a Series B funding round led by Durable Capital Partners LP, with participation from existing investors Madrona Venture Group, Blank Ventures, ICONIQ Growth, and Mubadala Capital.
Sarosh Waghmar and Shikhar Agarwal found that the New York startup will use the fresh capital to continue building its breakthrough travel platform by accelerating hiring and driving faster adoption of its Travel-as-a-Service Platform.
The startup provides a single cloud-based technology stack to corporations, travel management companies, suppliers, and technology providers. It has raised over $100M in two years, and its employee base has more than doubled in the past year to over 200 people.
“We’re bringing together engineers from Microsoft, Google, and other technology leaders to build a new high-performance infrastructure for travel that leverages massive data volumes and artificial intelligence to support hundreds of millions of travelers per year,” said CTO Agarwal.
Spotnana is accelerating innovation throughout the travel industry
Spotnana’s Travel-as-a-Service Platform includes everything from consumer-grade online booking tools to a new booking engine, mid-office replacement, a new system of record for booking travel, and new data integrations for travel inventory.
The new technology stack enables the travel industry to lower operating costs, accelerate innovation, and improve travel experiences. Corporations – can lower travel costs, reduce leakage, increase traveler satisfaction, and easily integrate their preferred technology systems.
“The infrastructure that has been in place for decades puts huge barriers between suppliers and travelers. We provide an open platform that enables the entire travel ecosystem to work together to deliver unparalleled travel experiences,” said CEO Sarosh Waghmar.
The platforms allow travelers to view booking options based on their preferences and let them access the same loyalty benefits available through supplier websites.
Additionally, travelers can see all available inventory from global distribution systems (GDS), direct connections, and other sources, eliminating the need to shop around. Spotnana does not accept GDS incentives and does not hide or bias content to reach supplier volume targets besides other benefits.
“Spotnana is accelerating innovation throughout the travel industry by enabling everyone to benefit from the power of cloud computing, microservices, an open platform, and open APIs,” said Steve Singh, managing director of Venture Group and executive chairman at Spotnana.