Hotelogix Will Use The Funds For Product Innovation And Market Expansion
Hotelogix, a cloud-based hotel property management system (PMS), has raised $5 Mn in a funding round led by Vertex Ventures, with the participation of Accel Partners and Saama Capital.
The company plans to use the funds for product innovation and market expansion. Hotelogix is also gearing up to expand its operations in Thailand, and make it the hub for Southeast Asia.
Also, the funding will be used to strengthen the company’s do-it-yourself (DIY) capabilities that would help it penetrate further into regions including South America, North America and the United Kingdom, where it is targeting independent hotels.
Commenting on the development, Aditya Sanghi, Co-founder and CEO at Hotelogix said, “In the last couple of years, we have created an impressive customer base of group hotels in India, replacing popular on-premise PMSs. With this, we have gained a strong foothold in the Indian market that has set the stage for us to now invest aggressively in this segment to scale up operations.”
Hotelogix: Catering To Hotels In 100+ Countries
Hotelogix, founded in 2010 by Prabhash Bhatnagar and Aditya Sanghi, offers an all-in-one enterprise-grade, cloud-based hotel property management system. The company claims that the platform is used by hotels in more than 100 countries.
The company also assists hotels to streamline operations, grow booking revenues and increase profit margins. Furthermore, it also helps hotels in increasing their online presence and improve online reputation to generate more bookings.
On the development, 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.”
At present, leading hotels Treebo Hotels, Mint Hotels, Leisure Hotels and Country Inn Hotels and Resorts, etc. use Hotelogix.
In 2012, the company raised $1.2 Mn Seed investment led by Accel Partners, with the participation of Blume Ventures and Mumbai Angels. Later in 2014, reports also surfaced that the company raised $1.8 Mn funding from Accel Partners and Saama Capital.
While Hotelogix continues to be the frontrunner in hotel PMS, Treebo launched its tablet-based property management system Bumblebee in June 2016. It aims to efficiently manage hotel operations and reduce 1/6th of the check-in or check-out time for the guests.
In the growing hospitality industry, the need and the growth of property management systems like Hotelogix are complementary. In this light, the expansion plans of the company with the latest round of funding from Vertex Ventures and the others is something to look forward to.
