Noida-based hospitality and travel technology startup Rate Gain has raised about INR 200-300 Cr. in a first round of funding round led by US-based private equity firm TA Associates. With this round of funding, Rate Gain is now valued at over INR 1,000 Cr.
“This funding is a big stamp of approval and recognition for the good work we have done.. We strongly believe the return on our effort will exponentially rise as a result of this investment,” said Rate Gain’s founder and chief executive Bhanu Chopra.
The startup plans to use the funds raised to expand operations overseas, develop products and acquire firms that have built solutions for the travel and hospitality industries.
Founded back in 2004, Rate Gain sells software for the hospitality and travel industries for revenue management decision support, rate intelligence, seamless electronic distribution and brand engagement helping customers around the world to streamline their operations and sales. RateGain global customer base comprises leading travel suppliers and intermediaries including airlines, hotels, cruise lines, car rental companies, online travel agents, tour operators and wholesalers.
Rate Gain has its services in over 120 countries, the company serves over 5,500 clients including about 3,000 hotels across the world. Rate Gain has its development centres based in India, and has client-facing offices in the US, Spain and the UK as well.
According to think tank iSpirt’s Software Product index (iSPIx), RateGain is among the 30 companies that are worth about $6.2 Bn.