Hotelogix Secures USD 1.2 Million Series A Funding from AccelPartners & Others
Hotelogix, which offers enterprise SaaS for hoteliers across the world, to help them manage their IT and business operations smoothly, has raised $1.2 million in Series A funding from Accel Partners, Blume Ventures and Mumbai Angels. The investment is led by Accel Partners. Shekhar Kirani of Accel has joined the board of Hotelogix. The company had previously raised a seed round from Mumbai Angels and Accel Partners in January, 2011.The investment shall be used for increasing the market penetration in Northern & Southern American markets. Hotelogix at present, has over 150 customers spread across 40 countries.
Speaking about why they chose to invest, Shekhar Kirani said, “Accel is very excited about Hotelogix's team, their product and the market. With more than 16 million hotel rooms in the world, where, most of them will upgrade to a cloud-based hotel management platform soon, Hotelogix's cloud-based platform is perfectly positioned for this market.”
Hotelogix currently has 40 employees with offices in Delhi and Bangalore. They have a strong network of channel partners in North America, Far East, the Caribbean and Thailand.
Speaking about the investors, Aditya Sanghi, CEO of Hotelogix said, “Accel, with its global footprint has a tremendous track record of scaling companies with similar SaaS models. We are very excited to have them on-board.”
Aditya added, “The sales cycles in enterprise SaaS applications are extremely long and that is a big challenge for us, however, we are looking at an exponential growth in global markets. This investment shall help us further strengthen our global base.”
Hotelogix is a TechSparks 2011 startup. For further details, please visit http://www.hotelogix.com