ITILITE, the next generation corporate travel management platform, has raised Rs 30 crore in a Series A investment round from its existing investors which include Matrix Partners India, and another leading global technology VC fund. A cohort of angel investors, including Ashish Gupta (founder, Helion Venture Fund) who has previously invested in companies such as Flipkart, MakeMyTrip and MuSigma, also participated in the round.
ITILITE offers an intelligent SaaS platform that helps companies reduce travel cost and improve booking experience, through a unique model of incentivizing employees to save on their travel expense. ITILITE brings down the overall travel cost for a corporate in a way employees love. The cutting-edge tech offered by ITILITE dramatically improves the booking experience, while enhancing visibility and control for the company. This model has resulted in a 30% month-on-month growth for the company over the last 12 months.
The company plans to use the capital to grow its engineering team for development of new capabilities, and simultaneously accelerate its sales and marketing efforts.
Commenting on the investment, Mayank Kukreja, Co-Founder, ITILITE, said, “Almost everyone who has travelled for work, has stories about the painful experience and the inefficient process. We have designed a smart system which helps businesses save time and money. Our 90 second booking process, 30% cost savings and travel rewards are unparalleled in the industry and ensure that we are loved by travellers, travel managers and financial controlers. With this funding round, we are committed to bring our platform to more companies and transform this industry.”
Anish Khadiya, Co-Founder, ITILITE, added, “Through its intelligent platform, ITILITE learns employee preferences and surfaces personalized recommendations. This is like having a smart travel assistant capable of instant response. Our platform addresses unique use cases for a range of our customers, which include large enterprises with thousands of employees to high-growth startups. It has delivered consistently across convenience and cost savings.”
“The rapid momentum gained by ITILITE in the last one year is a testament to the company’s innovative SaaS product and business model; this also further strengthens their position in the business travel space. We are privileged to have partnered with Anish and Mayank and are excited to continue supporting them on their journey”, said Gourav Bhattacharya, Director, Matrix India.