SUMMARY
Adara’s acquisition will help RateGain strengthen and consolidate its position across commercial teams in hotel chains, airlines and car rental companies
Adara and RateGain will together process more than 200 Bn ARI updates, operate about 30 Bn data points
The development comes a year after RateGain listed on Indian bourses, aiming to raise INR 400 Cr
Listed travel tech startup RateGain has inked an agreement to acquire data exchange platform Adara for $16.1 Mn (INR 134 Cr).
As per the startup, Adara’s acquisition will help RateGain strengthen and consolidate its position across commercial teams in partnered hotel chains, airlines and car rental companies. The acquisition will also allow access to more than 50 destination marketing organisations in the US.
Further, as shared, Adara and RateGain plan to process more than 200 Bn ARI updates and operate about 30 Bn data points. The two startups will concertedly work with more than 700 partners across 100+ countries.
The development comes a year after RateGain listed on Indian bourses, aiming to raise INR 400 Cr.
Set up in 2004 by Bhanu Chopra, RateGain offers a SaaS-based product that helps travel and hospitality companies streamline operations and sales. It shared that it helps customers accelerate revenue generation through customer acquisition and retention.
“We are delighted to welcome the Adara team to the RateGain family. Adara’s key differentiator is its access to permissioned travel-intent data from the world’s top travel and hospitality players as well as destination marketing organizations and relying less on traditional methods of tracking consumer intent,” said Bhanu Chopra, chairman and founder of RateGain.
The startup claims to be working with more than 2800 customers and over 700 partners across 100+ countries. It further asserted that it has a headcount of more than 600 employees globally.
In the second quarter of FY23, its operating revenue soared by 47% year-on-year (YoY) to INR 124.61 Cr against INR 84.76 Cr posted in the corresponding quarter last fiscal year (FY22). Meanwhile, its profit after tax (PAT) grew by 430% YoY from INR 19.57 Cr in Q2 FY23 to INR 3.69 Cr in Q2 FY22.
On the other hand, founded in 2009 by Charles Mi, Adara is a data collection and management platform that offers business intelligence solutions such AI-enabled DaaS and martech offerings to travel and hospitality companies for optimal consumer engagement.
Explaining the process, Adara said that it uses AI to combine global data consortiums with more than 24 Bn data elements across 130 countries. It helps customers build better connections to engage consumers and increase profitability.
“We are thrilled to be a part of the global RateGain family. Bhanu’s vision to build an end-to-end platform that can help organizations maximize revenue, aligns with what Adara believes in and the integration of RateGain. Adara will further this to create a unique value proposition that the industry needs, as more and more travelers adopt digital channels to research, plan and book travel,” said Charles Mi, founder and CEO of Adara.
In India, RateGain faces competition from the likes of Cloudbeds, eRevMax and InnQuest, among others.
According to a Statista report, the country’s travel tech was pegged at $3.81 Mn in 2022. The industry is set to breach the $5.52 Mn mark by 2026, expanding at a CAGR of 9.71% during 2022-26.
