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Start-up Spotnana secures another $75 million in funding

Cloud-based booking platform Spotnana has secured another $75 million in its second round of funding to help accelerate the development of its “travel-as-a-service” portal.

The company, which is headed up by CEO Sarosh Waghmar and featured on BTN Europe’s 2022 Hotlist, has received the extra cash in addition to the initial $41 million warchest it had when emerging from stealth mode in September 2021.

Spotnana’s latest Series B funding has been led by US-based Durable Capital Partners, alongside original investors Madrona, Mubadala, ICONIQ Growth and Blank Ventures.

The company said the new funding would allow it to “accelerate” the development of the platform and grow its team.

Spotnana already features a host of well-known corporate travel figures among its senior management and investors, including Concur founder Steve Singh, former HRG chief operating officer Bill Brindle and technology specialist Johnny Thorsen. 

It is working with TMCs, suppliers and technology partners to provide an open ecosystem with access to microservices and content from suppliers. Corporates can contract directly with Spotnana or through their TMC.

Waghmar said in a blog announcing the new funding: “We are just getting started and will share many more innovations in the months and years ahead. 

“The best part is that we aren’t doing this alone. Other technology companies are already building on our infrastructure and bringing exciting new capabilities to travellers.

“I’d like to thank every one of our 200-plus Spotters around the world. Your hard work, innovation, and dedication are transforming the travel industry and creating better experiences for global travellers.

“I’d also like to recognise the investors and backers who are supporting us on our mission to rebuild the infrastructure for the travel industry.”

Success is not given, it is earned. Congratulations to the entire team at Spotnana on your funding. I wish you all the best in this endeavour.

Shishir Gupta, Founder and CEO, StartupLanes

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