Noida-based hospitality and travel technology solutions startup, RateGain has secured between INR 200-300 crore in its first round of funding from US-based private equity firm TA Associates at a valuation of over INR 1,000 crore. The startup will use the raised funding to expand its operations overseas, develop products and acquire firms that have built solutions for the travel and hospitality industries.
RateGain founder and chief executive Bhanu Chopra told ET. “We strongly believe the return on our effort will exponentially rise as a result of this investment.”
Started in 2004, RateGain helps businesses including airlines, hotels, cruise lines, car rental companies, online travel agents, tour operators and wholesalers by offering revenue management and real-time pricing data and analytics. It operates its services over 120 countries, and serves more than 5,500 clients including about 3,000 hotels across the world.
TA Associates has invested in over 440 companies around the world and has raised USD 18 billion in capital till date.