On behalf of IAN, Sanjay Mehta, Keshav Murugesh and Apurva Parekh have led this round of investment and Sanjay Mehta would be joining the board of the company for helping the team with strategic decisions.
Raised funding will be used for acquiring customers from Hotel industry in India and to explore the Southeast Asian market. The key focus areas for the company in the coming year will include onboarding of 500 hotels, building partnership with OTA’s, review portals and exploring other geographies.
Founded in December 2014 by Pranjal Prashar, RepUp is an ORM product startup for hospitality businesses. It helps hoteliers increase bookings by a significant margin by improving their online reputation of the website/brand, which is scattered across the web.
With the help of its technology, the startup also provides competitor analysis. Helps in collecting collating guest reviews for the hotel, improves the delivery standard and also optimises the rates.
Pranjal Prashar, Co- Founder & CEO of RepUp said, “Hospitality industry is going through a fast transition and customer expectation and behaviour is changing rapidly. 3.5 million Indian Internet users (35 lakh) booked a hotel online in 2014, which will increase to 8.4 million (84 lakhs) by the time 2016 ends. RepUp aims to solve the online reputation management challenges using technology that can be scaled globally.”
The Indian hotel industry is worth $230 billion and is growing at the rate of 12.2 % per year. Along with it a rise in consumer confidence for online hotel bookings is also observed. According to Google’s latest research, an estimated 8.4 million Indians are expected to book hotels online by 2016. The online hotel booking Industry will be worth $1.8 billion from the current $0.8 billion.