With successful funding participation from existing investors SAIF Partners and Silicon Valley venture fund Bessemer Venture Partners, holiday marketplace, TravelTriangle raised investments of $10 million in series B funding from RB Investments.
Talking about TravelTriangle Harshavardhan Bothra from RB Investments Pte Ltd, said, “The opportunity of serving the large do-it-for-me market in holidays is under appreciated. What sets them apart are their operators; diligent, persistent and insightful. We see TravelTriangle marketplace as the key beneficiary of fast growing outbound holiday market & increasing fragmentation of offline travel agents.”
To further accelerate its growth, TravelTriangle plans to hire more employees and extending its operations. Commenting on the successful round of funding and company’s future growth and hiring plans, Sankalp Agarwal Co-Founder and CEO of TravelTriangle, said, “With the association with RB Investments in this round we will achieve our vision faster. Our success up till now has been the effort of our super motivated team. As we charter the next phase of growth, my aim is to bring together the best in the industry and make TravelTriangle an employer of choice.”
TravelTriangle had, within a year of inception, raised an angel funding of INR 60 lakh from a group of individual investors. It then raised a pre-Series A investment of $1.7 million from SAIF Partners in July 2014 and closed series A financing of $8 million from Bessemer Venture in April 2015.
TravelTriangle looks to make a complete product ecosystem for travellers to plan, book and share their dream vacation and for travel agents to sell, analyze, track and manage all the holidays sold. With its unique options, customizable packages and an auction-oriented concept of best prices from local travel agents, it empowers an individual traveller. On the supplier front, the state-of-art SAAS CRM provides opportunity to access million plus purchasers with Big Data algorithms to guide probability and process of conversions throughout the lifecycle of purchase.
Sharing his views Mayank Khanduja from Saif Partners said “Packages & Holidays is a complex tech product compared to 1-click booking solutions. Consumers need handholding during planning for weeks. Vertical solutions have, hence, scaled very well geographies like China on the back of technology. Similarly, Travel triangle has effectively used technology to provide a great experience to customers and higher business to its partners.”