A cloud-based hotel management system Hotelogix has raised $5 million in a funding round led by Vertex Ventures and its existing investors Accel Partners and Saama Capital also took part in the funding round.
In 2009, the Noida-based company Hotelogix was founded by Prabhash Bhatnagar and Aditya Sanghi. The company uses its technology to automate hotel operations, increase booking boost revenue, with channel manager, booking engine. The company claims that its hotel management system is being used by more than 1500 hotels in over 100 countries.
The company plans to use the raised funding to initiate its operations in Thailand and also to target hotels catering in North, South America and UK.
Sanghi said, Rapid as well as a well-thought-out expansion, is on the cards. In the last couple of years, we have created a good customer base of group hotels in India, replacing popular on-premise property management systems. With this, we have gained a strong foothold in Indian market that has set the stage for us to now invest aggressively in this segment to scale up operations.
Ben Mathias, managing Partner at Vertex Ventures said, the number of interfaces needed by hotels to OTAs, channel managers, search engines, and review sites is continuously increasing, which necessitates the need for hotels to have a cloud-based PMS solution.
The companys technology partners are Amazon Web services, TripAdvisor, PayPal, etc.
The company raised its first funding of $1.2 million in 2012 from Accel Partners, Blume Ventures and Mumbai Angels. In 2014, the company further raised $1.8 million from Accel Partners and Saama Capital.