In a bid to further boost the growth, Bangalore-based real-time hotel distribution technology company, RezNext Global Solutions has raised $5 Mn of funding from global venture capital firm New Enterprise Associates (NEA).
Launched in year 2012, RezNext is into distribution technology for hotels in a real-time environment, helping hotels interpret and automate the current complex hotel distribution landscape. The technology also levels the playfield for lower and mid-scale hotels, allowing them to quickly get online and leverage the opportunity the internet presents today.
On this development Mike Kistner, Chief Executive Officer, RezNext Global Solutions has said that this investment from NEA is a great vote of confidence in our vision to become the de facto switch for intelligent distribution for hoteliers and demand generators around the globe.
He further added, this funding will help us substantially increase the market penetration, deliver full product portfolio, and ensure that customers and partners succeed through increased collaboration, great customer service and improved revenues. “This will also fuel our expansion plans in the domestic and international markets,” he said.
RezNext has already onboarded 1200+ customers to its intelligent distribution platform and is in expansion mode, targeting other important markets in Asia, Africa, and the Middle East.
With more than $13 Bn in committed capital, NEA is a global venture capital firm helping entrepreneurs. It invests in information technology and healthcare companies at all stages.