Cloud Based SaaS Startup Hotelogix Raised $5Mn Led By Vertex Ventures
Cloud based SaaS Startup, Hotelogix running under HMS Infotech Pvt Ltd, has raised $5 million (INR 32.5 crore) from investors led by Vertex Ventures, an early-stage venture capital firm backed by Singapore’s state investment firm Temasek Holdings. Existing investors Accel Partners and Saama Capital had also participated in the round reported VCCircle.
Hotelogix offers a cloud-based property management system (PMS) for small and medium-sized hotels.
The raised capital would be used in product innovation and market expansion.
Hotelogix was founded in 2008 by Aditya Sanghi and Prabhash Bhatnagar. It offers a unified approach to meet functions such as front-desk operations, housekeeping and restaurant operations at hotels. It also integrates with travel agent networks and external booking sites, providing a wider inventory distribution along with real-time integration with partner sites, group booking sites, and other central reservation systems.
“Rapid as well as well-thought out expansion is on the cards,” said Aditya Sanghi, co-founder and chief executive of Hotelogix. “We have gained a strong foothold in Indian market that has set the stage for us to now invest aggressively in this segment to scale up operations.”
The startup’s last known funding took place in 2014, when it had raised $1.8 million from Accel and Saama Capital.
The firm had earlier raised $1.2 million led by Accel Partners, with participation from Blume Ventures and Mumbai Angels, in April 2012.
Last week, Trilyo, B2B software-as-a-service (SaaS) solutions in the hospitality sector, raised $250,000 (Rs 1.6 crore) in funding.
Vertex Ventures’ recent investments in India include Synup, a digital marketing for local businesses firm; Flutura, an Internet of Things (IoT) analytics firm; Ace Turtle, an omni-channel order management firm; and Cloudcherry, a customer experience management SaaS firm.
Earlier Vertex Ventures invested in e-commerce platform FirstCry and online travel agency Yatra.