SaaS-based travel management platform ITILITE raises Rs 30 Cr Series A fundingSutrishna Ghosh
Through a unique model of incentivisation and AI-powered algorithms, the ITILITE platform helps reduce overall travel cost for companies while making booking experience seamless.
ITILITE, a SaaS-based platform that helps companies reduce their travel cost and improve booking experience, announced it has raised Rs 30 crore in a Series A led by existing investor Matrix Partners India and others. A cohort of angel investors, including Ashish Gupta, the founder of Helion Venture Fund, also participated in the round.
Through a model that incentivises employees for saving on their travel expense, the integrated travel management startup helps to bring down the overall travel cost for companies. Its AI-powered algorithms also help control costs by predicting the expense for every trip.
The company said it will use the funds from the latest fundraise to grow its engineering team to develop newer capabilities and to accelerate its sales and marketing efforts.
Co-Founder of ITILITE, Mayank Kukreja said in a release,
“We have designed a smart system which helps businesses save time and money. Our 90 second booking process, 30 percent cost savings and travel rewards are unparalleled. With this funding round, we are committed to bring our platform to more companies and transform this industry.”
ITILITE was founded by Mayank, an alumnus of IIT Delhi and IIM Ahmedabad, and Anish Khadiya, an IIT Kharagpur and IIM Lucknow graduate, in 2017. While targeting corporate travels exclusively, their SaaS-enabled platform has emerged as an end-to-end travel management platform, covering a range of bookings for flights, hotels, buses and other services.
“Through its intelligent platform, ITILITE learns employee preferences and surfaces personalised recommendations. This is like having a smart travel assistant capable of instant response,” added Anish. “Our platform addresses unique use cases for a range of our customers, which include large enterprises with thousands of employees to high-growth startups.”