Treebo Hotels has raised $16 million led by French hospitality giant Accor. Bennett Coleman & Company Limited (BCCL), Deepak Parayanken along with its existing investors, Elevation Capital, Matrix Partners, Bertelsmann, and Ward Ferry also participated.
The investment from Accor is strategic and as part of the deal, Treebo will deploy its SaaS product ‘Hotel Superhero’ across Accor hotels worldwide. With this, Treebo also seems to be building a comprehensive software solution for Accor which could also be sold out to other large hospitality groups in the future.
Significantly, Accor has been in talks with Treebo for potential investment for about two years. However, it looks like the pandemic has delayed the process and shrunk the quantum of investment as well. Several media reports around May 2019 emphasised that Accor was in late-stage talks to invest up to $50 million in Treebo.
The funding announcement has come on the heels of Treebo’s co-founder Rahul Chaudhary moving from the company to explore new interests. The new funding in the company is a good sign for the hospitality ecosystem in India.