Noida and Singapore-based hotel booking engine, Commeasure has raised $1 million led by venture capital firm, Jungle Ventures, whose portfolio company ZipDial was recently acquired by Twitter. Apart from Jungle Ventures, a public market fund has also participated in the round, but the company hasn’t disclosed the name of the latter or the stakes picked up by the new investors.
As per a report by ET , the raised funding will be used to expand its presence in Southeast Asia as well as build its technology stack.
The one-year old firm was launched by Amit Saberwal and Asheesh Saxena, with a seed capital of $370,000, the firm’s technology platform includes a booking engine as well as training and online distribution. It has around 500 small and mid-sized hotel clients across India and Southeast Asia including Clarks Group of hotels, Classic Group and Sarovar Hotels.
The company provides clients end-to-end solutions including distribution across online channels, pricing across target markets and booking of rooms for independent hotel chains. Prior to starting the venture, both Saberwal and Saxena played critical roles in building and developing online travel agency MakeMytrip’s hotel business.