Stayzilla, an online hotel booking platform, has raised $20 Mn in Series B funding from Nexus and Matrix Partners.
The company plans to use the fund in marketing and brand building. Besides, Stayzilla will deploy the funds to scale up its chain of accommodation suppliers to 8000 towns by the end of the year. It is currently present in 5000 towns and has 20,000 listed properties.
Stayzilla had raised its Series A round in 2013 led by Matrix. Prior to that it had raised raised $0.5 million from Indian Angel Network (IAN) in 2012.
Founded in 2010, by Yogendra Vasupal, Sachit Singhi and Rupal Yogendra, Stayzilla claims itself to be a stay marketplace, more than just a hotel booking platform like Makemytrip. Stayzilla, a hotel service range from Chennai-based Inasra Technologies Pvt. Ltd offers customers a well-defined range of lodges, homestays, guesthouses, etc. The company allows users to book accommodation in more than 1100 cities with an option of 17000 options.
The INR 3,000 Cr investment firm, Matrix Partners India has a portfolio comprising of companies like LimeRoad, Chumbak Designs, MSwipe, Newshunt, Ola, Quikr; the firm invests in companies targeting the Indian consumer market at the seed, early and early growth stages.
Venture capital and private equity funds has invested $115.69 Mn across 13 deals in the travel segment in 2014 much higher than the $8.2 Mn across nine transactions in 2013.