Bangalore-based real-time hotel distribution management solutions provider, RezNext has secured USD 5 million funding from New Enterprise Associates (NEA).
As per a TechCircle report, the new funding will be used to increase its market penetration, deliver full product portfolio as well as fuel expansion plans in the domestic and international markets.
Reznext was launched in 2012, as a venture of Mike Kistner and B Bindushekar, offers a distribution technology for hotels in a real-time environment, helping them automate the hotel distribution landscape.
The firm has on-boarded 1200-plus customers and now expanding operations into Asia, Africa, and the Middle East. Last year, Online travel company, Yatra.com & Travelguru had partnered with RezNext to provide customers access to real-time information on hotel room availability, along with ability to book and get instantaneous confirmation of their bookings directly from the hotels ERP Software.
Earlier this month, NEA had led a USD 1.5 million investment round in Silicon Valley and Bangalore based Inksedge, an e-commerce and design services company.