Hotelogix bags $1 mn venture co funding

Hotelogix is,a provider of cloud based PMS to the hospitality industry.

Written by Agencies | Mumbai | Published: April 5, 2012 7:01:48 pm

Hotelogix,a provider of cloud – based property management system (PMS) to the hospitality industry,today said it has raised USD 1.2 million (around Rs 6 crore) from a clutch of global venture firms.

The funding from Accel Partners,Blume Ventures and Mumbai Angels will further build Hotelogix’s foothold on the global market,a top company executive said.

“We will use the funds to build further foothold on the global market,continuing with the dramatic growth rate of establishing customers in over 40 countries that we have demonstrated in the past two years. We will now focus on creating serious inroads into the north and south American markets,” Hotelogix Chief Executive Officer Aditya Sanghi said in a release here.

While Accel Partners is the lead investor,Blume Ventures and Mumbai Angels are co-investors,the release said.

“With Accel’s global footprint,combined with aggressive and successful track record of Blume Ventures and Mumbai Angels,we look forward to leveraging their experience in becoming a world-class organisation,” Sanghi said.

The small and mid-sized hospitality industry is largely under-served globally,he said. “Hotelogix addresses their needs with a solution to help manage their operations in a simplified way and within their constraints to reach a level at par with higher starred properties and brands.”

“With more than 16 million hotel rooms in the world,Hotelogix’s cloud-based platform is perfectly positioned for this market,” Accel Venture Partner Shekhar Kirani said.

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