Travel-as-a-Service startup Spotnana announced its latest round of funding, securing $75 million dollars in a new B series round led by Durable Capital Partners LP. The primarily corporate-focused company intends to expand into the leisure space as well.
Spotnana, a travel startup focused on corporate travel management, announced a new round of funding. The formerly stealth company burst on the scene in 2019 with a round of funding worth $41 million dollars. This latest round which Durable Capital Partners LP led, is worth $75 million dollars.
Spotnana aims to reinvent the infrastructure that stitches together the often fractured travel industry. Their Travel-as-a-Service platform is designed to simplify and resolve many of the problems faced by travel providers and aggregators by creating a single, easy-to-use, cloud-based tech stack. Spotnana is often referred to as the “AWS of travel” – referring, of course, to Amazon’s Amazon Web Services cloud platform that cloud providers use to build products in the cloud.
Of note, the pain associated with country-by-country deployment of booking engines can make a global travel buyer’s job incredibly frustrating. Spotnana’s platform consolidates this into a single, cloud-enabled instance, eliminating the need to create an instance for each country. This reduces the cost of support while reducing time to market.
“Travelers today book trips through archaic infrastructure that limits their choices, drives up costs, and slows the adoption of new innovation. Spotnana has developed a new generation of cloud-based travel technology that puts the needs of travelers first. Our Travel-as-a-Service platform gives corporations, agencies, suppliers, and technology providers the power to deliver unparalleled, travel experiences that bring people together all over the world”Spotnana
Now, armed with additional funding, the startup’s rapid growth continues. With over 200 employees and several customers the startup, helmed by Executive chairman Steve Singh, the former CEO of Concur, is poised to enter the consumer travel space as well.
“They are experiencing tremendous growth, because their innovations go far beyond an elegant online booking tool. By modernizing the entire technology stack for booking a trip, they are breaking down the walls between suppliers and travelers and opening the door to a new level of personalization in the booking process. Spotnana has the potential to be a long-term, sustainable success.”Steve Singh, Spotana Executive Chairman, Managing Director Venture Group
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