Corporate Travel Tech Platform Spotnana Raises $75M – Meczyki.Net

to spotA self-proclaimed “travel-as-a-service” platform targeting corporations, travel management firms and other technology companies with a cloud-based toolset for booking and managing travel, has raised $75 million In a Series B round of funding.

It’s less than a year since Spotify’s exit from the Sneak with $41 million in funding, and the latest cash injection is probably a sign of the world slowly returning to normal as business travels at least somewhat again. Let’s start with.

Founded in New York in 2019, Spotnana bills itself as an “integrated cloud-based platform,” providing a consistent interface and booking experience to each user – acting as a single platform for both travelers and agents. who can view the same travel list, profile, policies and rates, all at the same time.

But Spotnana can be used in different ways, either as a full standalone product full of interfaces, or as an API that allows third parties to take over Spotnana’s infrastructure and build their own products. allows. At its core, Spotnana is about bringing “consumer-grade” booking technologies to the enterprise, while simultaneously allowing anyone to take advantage of its booking engine and data integration.

β€œIt is our mission to rebuild the infrastructure of the travel industry to bring freedom, simplicity and trust to travelers everywhere,” said Sarosh Waghmar, Co-Founder and CEO, Spotnana. Press release, “The infrastructure that has existed for decades creates a huge barrier between suppliers and travelers.”

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spotnana interface

corporate travel bounces back

The global business travel market was a $700 billion industry in 2020, according to statistics From Allied Market Research, a figure that was surprisingly high considering that the world was in a pandemic-induced lockdown. But as corporate travel begins to kick back into gear, the sector is expected to top $2 trillion within six years.

Elsewhere, there is evidence that investors are starting to view travel tech companies favorably again. Just last year, corporate travel company TripActions hit a valuation of $7.25 billion, though that was due to its expansion in broader corporate spending — even the work-at-home employees need to buy things.

Meanwhile, Spotnana has a pretty impressive team of people. Waghmar previously started another digital travel management company called WTMC, while CTO Shikhar Agarwal previously worked at Google Brain. And then there’s executive chairman Steve Singh, who co-founded travel expense management company Concur in 2014 before selling it to SAP for more than $8 billion. In 2020, Singh joined Madrona Venture Group as Managing Director, and co-led Spotna’s Series A round of funding.

Spotnana’s Series B funding was led by Durable Capital Partners LP, with participation from Madrona Venture Group, Econic Growth, Mubadala Capital and Blank Ventures.