Hotelogix raises $5 million to expand global footprint
Leading cloud-based Hotel Property Management System provider Hotelogix, has raised $5 million in fresh capital to expand its global footprint with special focus on group hotels.
The hospitality technology firm also plans to accelerate product innovation with this round of funding. Vertex Ventures led the round, with participation from Accel Partners, and Saama Capital.
Founded by Prabhash Bhatnagar and Aditya Sanghi, Hotelogix offers an all-in-one enterprise-grade cloud-based Hotel Property Management System (PMS), used by hotels in more than 100 countries. The company effectively assists hotels to streamline operations, grow booking revenues, and increase profit margins.
Aditya Sanghi, co-founder and CEO of Hotelogix, said: “Rapid as well as well-thought out expansion is on the cards. We would use this fresh capital infusion to target group hotels in regions including United Kingdom, North America, and South America. Additionally, we will also scale up our operations in our home turf, India.”
The company also aims to expand its operations in Thailand and make the country its hub for Southeast Asia.
On product innovation, the company’s founder Prabhash Bhatnagar, said: “Funding will be used to strengthen our product’s DIY capabilities. We are committed to ensure that our PMS becomes the robust, yet most user-friendly application for hotels across categories.”
Ben Mathias, managing partner at Vertex Ventures, said the company was excited about its partnership with Hotelogix.
“The number of interfaces needed by hotels to OTAs, channel managers, search engines, and review sites is continuously increasing, which necessitates the need for hotels to have a cloud-based PMS solution,” he said.
“Hotelogix already has an impressive global install base and we look forward to working with Prabhash and Aditya as they expand their leadership in this market.”