The Bengaluru based software-as-a-service (SaaS) startup Itilite that focuses on business travel on April 18 raised $13 million in a Series B funding round led by California’s Greenoaks Capital and Dubai-based Vy Capital, with participation from Matrix Partners India, and existing investors.
The company in press statement mentioned that it will utilise the fresh funds for international expansion and product innovation.
On similar lines, Mayank Kukreja, CEO of Itilite said,
“Around the world, digital transformation of business travel is well underway, and we are well positioned to help them to modernise their processes using technology. Consistently delivering a great experience to travellers and seamless process efficiency to companies has helped us become the business travel platform of choice,”
Affirming the idea of Itilite and sharing his vision, Gourav Bhattacharya, Director of Matrix India, said,
“Optimising travel for cost and experience is a priority for every business on the planet, and the growth Itilite has achieved by delivering this in such a short time is impressive. Now, armed with fresh capital, a world-class product, and a highly accomplished team behind it, we are confident that Itilite is well-positioned to emerge as a global leader in business travel and expense management,”
Itilite was founded in 2017 by Mayank Kukreja and Anish Khadiya to enable organisations to plan and book their trips within 90 seconds through personalised recommendations and incentives based on their LinkedIn profiles. The startup claims that its service suite helps companies save up to 30 percent of their travel budget. The company at present is serving over 150,000 users and over 200 companies in India, the US, and South-East Asia which includes Jockey, RPG Group, JSW, Ola, Swiggy, and Capillary Technologies.
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