SaaS-based travel management startup ITILITE has raised Rs 30 crore in its Series-A funding round led by Matrix Partners and others. A clutch of angel investors including Ashish Gupta, founder of Helion VC fund also participated in the round.
The funding round for the Bengaluru-based travel tech startup comes after 14 months of raising undisclosed seed fund led by Matrix. The latest proceeds will go for growing its engineering team and to ramp up the sales and marketing.
Founded by Mayank Kukreja and Anish Khadiya in 2017, ITILITE is an end-to-end corporate travel management solutions covering flights booking, hotels, buses, and other services. It offers cost-effective travel options through employees rewards and incentives.
The company clientele base mainly counts software firms, e-commerce companies, logistics operators and packaged food makers. Clients are billed on the volume of travel they book through the platform.
The startup uses its technology that learns employee preferences and makes personalised suggestions. According to Kukreja, ITILITE’s smart corporate travel solution has been able to cut employees’ travel costs by 25 per cent.
The development comes soon after Matrix Partners closing of third fund worth $300 million. The VC firm had clearly mentioned that it would prefer consumer focused startups that can generate their own money via the sale of products and services instead of relying on the advertising-led model.
Matrix has backed Ola, Quikr, Practo, DailyNinja, Vogo, Treebo among others.
The development was first reported by ET.