B2B Travel SaaS Startup Itilite Raised Seed Funding From Matrix Partners India and Others
B2B Travel SaaS Startup, Itilite, has raised seed round of funding from Matrix Partners India and a group of angel investors.
Itilite plans to use the freshly raised capital to strengthen its technology and to hire additional workforce.
B2B Travel SaaS Startup Itilite was founded in 2017 by former Myntra employees Kukreja and Anish Khadiya.
The SaaS startup which offers end-to-end corporate travel management solutions, uses its technology to offer cost-effective travel options, to keep expenses for companies at less than what their employees are entitled to.
The startup offers corporates a solutions that allows them to reward their employees to save on travel cost. A travel rewards platform to help corporates save up to 30% on travel cost by rewarding employees to make cost conscious.
“The amount, which is saved owing to booking cheaper options despite higher entitlement, gets divided between the company and the employee on a 50-50 basis. Our solution is cutting travel costs by 30% for clients, while traditional players offer a promise of cutting 3-5% only”, said Mayank Kukreja, co-founder of Itilite.
Matrix Partners India VP Gourav Bhattacharya said, “Corporate travel is in some sense the final frontier of travel — a large market that has meaningful components that are still offline and manual. Itilite’s innovative SaaS product takes a lot of the friction out of the process. In addition, it also drives cost-saving for clients that creates direct bottom-line impact.”