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Spotnana raises $75 million in latest funding round

 Spotnana raises $75 million in latest funding round

globalbizmag.com

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Spotnana, a cloud-based travel technology platform, has raised $75 million in a funding round led by Durable Capital Partners LP and existing investors such as Mubadala Capital Madrona Venture Group, Blank Ventures and ICONIQ Growth.

Spotnana said the Series B funding will help it in hiring and promoting its Travel-as-a-Service (TaaS) Platform, which provides cloud-based technology to corporations, travel management companies, suppliers, and technology providers.

Spotnana has raised over $100 million in two years, and its employeSpotnana was founded by two Indian entrepreneurs – Sarosh Waghmar, the company’s CEO with more than two decades of travel industry experience, and Shikhar Agarwal, the chief technology officer and formerly a founding engineer at ThoughtSpot, an analytics platform.

Providing Open Platform

“The infrastructure that has been in place for decades puts huge barriers between suppliers and travellers. We provide an open platform that enables the entire travel ecosystem to work together to deliver unparalleled travel experiences, similar to the way Amazon has democratized access to computing resources in the cloud,” said Waghmar.

“Spotnana is building something new that the travel industry has never seen before. We are bringing together engineers from Microsoft, Google, and other technology leaders to build a new high-performance infrastructure for travel,” said Agarwal.

“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 at Madrona Venture Group and Executive Chairman at Spotnana.

“After serving as CEO of Concur for more than two decades, I’m excited to be an investor in Spotnana. No one is doing more today to tackle the hard technology problems in the travel industry in order to power better experiences for travelers around the world,” Steve Singh added.

New Solution Provider

Henry Ellenbogen, Managing Partner and Chief Investment Officer at Durable Capital Partners LP, said that Spotnana is a completely new type of solution provider for the travel industry.

“They are experiencing tremendous growth, because their innovations go far beyond an elegant online booking tool. By modernizing the entire technology stack for booking a trip, they are breaking down the walls between suppliers and travellers and opening the door to a new level of personalization in the booking process. Spotnana has the potential to be a long-term, sustainable success,” he added.


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