Home
Internet
Internet News
Stayzilla Raises $20 Million in Series B Funding

Stayzilla Raises $20 Million in Series B Funding

By Press Trust of India | Updated: 20 February 2015 13:44 IST

Click Here to Add Gadgets360 As A Trusted Source

Travel-related online service provider Stayzilla on Thursday said it has raised $20 million in series B funding led by Nexus Capital and existing investor Matrix Partners.

The funds will be used to expand to new cities, develop a stronger brand platform and work with accommodation owners like hotels, homestays, guest houses, resorts, bed and breakfast, jungle lodges, boat houses, paying guests, to accelerate growth, the company said in a statement.

India Discussion

Explore More...

"We have achieved tremendous growth over the past year and this investment will help us expand exponentially and tap newer destinations to reach 8,000 towns and 50,000 accommodations by the end of the year," Stayzilla.com founder and chief executive Yogendra Vasupal said.

Commenting on the investment, Nexus Venture Partners managing director Anup Gupta said, "The increasing penetration of the Internet and smartphones have created the need for a platform that aggregates the entire range of accommodations options. We are very impressed with Stayzilla's innovative end-to-end solutions to address the reality of low technology adoption among suppliers."

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.