NEW YORK--(BUSINESS WIRE)--Spotnana, a leading provider of cloud-based travel technology, today announced it has raised $75M in Series B funding to continue building its breakthrough travel platform. The round was led by Durable Capital Partners LP, with participation from existing investors Madrona Venture Group, ICONIQ Growth, Mubadala Capital, and Blank Ventures.
This new financing enables Spotnana to accelerate hiring and drive faster adoption of its Travel-as-a-Service Platform, which provides a single cloud-based technology stack to corporations, travel management companies, suppliers, and technology providers. Spotnana has raised over $100M in two years, and its employee base has more than doubled in the past year to over 200 people dedicated to building stronger human connections through travel.
“It’s our mission to rebuild the infrastructure of the travel industry in order to bring freedom, simplicity, and trust to travelers everywhere,” said Spotnana co-founder and CEO Sarosh Waghmar. “The infrastructure that has been in place for decades puts huge barriers between suppliers and travelers. We provide an open platform that enables the entire travel ecosystem to work together to deliver unparalleled travel experiences. We are building longer tables that foster collaboration, not higher walls that slow industry innovation.”
Spotnana’s Travel-as-a-Service Platform includes everything from consumer-grade online booking tools to a new booking engine, mid-office replacement, a new system of record for booking travel, and new data integrations for travel inventory. This new technology stack enables the travel industry to lower operating costs, accelerate innovation, and improve travel experiences. Key benefits for corporate travelers include:
- Personalized travel booking - travelers view booking options based on their preferences and can access the same loyalty benefits available through supplier websites.
- Unbiased global content - travelers see all available inventory from global distribution systems (GDS), direct connections, and other sources, eliminating the need to shop around. Spotnana does not accept GDS incentives and does not hide or bias content to reach supplier volume targets.
- Single platform for travelers and agents - travelers save time by working with agents who see the same travel inventory, profiles, policies, and negotiated rates.
- Seamless global service - travelers receive consistent service from travel agents located anywhere in the world who have full visibility into traveler profiles and trip details.
“Spotnana is a completely new type of solution provider for the travel industry,” said Henry Ellenbogen, Managing Partner and Chief Investment Officer at Durable Capital Partners LP. “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.”
Spotnana’s Travel-as-a-Service Platform enables all parts of the travel industry to experience the benefits of a cloud-based technology stack:
- Corporations - can lower travel costs, reduce leakage, increase traveler satisfaction, and easily integrate their preferred technology systems.
- Travel management companies - are able to deliver a superior client experience, increase operational efficiency, unlock new revenue opportunities, and improve agent hiring and retention.
- Suppliers - gain a direct connection to travel buyers that enables personalized travel offers and an improved ability to retail ancillary services.
- Technology providers - can easily add travel bookings to their product suite or build new products based on components of Spotnana’s architecture.
“Spotnana is accelerating innovation throughout the travel industry by enabling everyone to benefit from the power of cloud computing, microservices, an open platform, and open APIs,” said Steve Singh, Managing Director at Madrona Venture Group and Executive Chairman at Spotnana. “After serving as CEO of Concur for more than two decades, I’m excited to be an investor in Spotnana. No one is doing more today to tackle the hard technology problems in the travel industry in order to power better experiences for travelers around the world.”
Spotnana powers unparalleled global travel experiences. We are rebuilding the infrastructure of the travel industry in order to bring freedom, simplicity, and trust to travelers everywhere. Our Travel-as-a-Service platform enables corporations, agencies, suppliers, and technology providers to personalize travel booking, lower operating costs, and build deeper customer relationships. To learn more, visit spotnana.com.