TravelTriangle raises Series B funding of USD 10million

| Updated: Feb 07, 2017 17:50 IST

New Delhi [India], Feb. 7 (ANI): TravelTriangle, a holiday marketplace, raised USD 10 million in series B funding from RB Investments. One of the most successful innovators in the online travel space, TravelTriangle's successful funding round saw participation from existing investors SAIF Partners and Silicon Valley venture fund Bessemer Venture Partners. TravelTriangle has been able to generate funds for three years straight. Within a year of inception, TravelTriangle had raised an angel funding of Rs. 60 lakh from a group of individual investors. It then raised a pre-series A investment of USD 1.7 million from SAIF Partners in July 2014 and closed series A financing of USD 8 million from Bessemer Venture in April 2015. "We have grown faster than OTAs in the leisure segment and now fast approaching their scale. 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," said Sankalp Agarwal Co-Founder and CEO of TravelTriangle. Since its inception, TravelTriangle has believed in making a complete product ecosystem for travelers to plan, book and share their dream vacation and for travel agent to sell, analyse, track and manage all the holidays sold. "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 and increasing fragmentation of offline travel agents. Increasing consumer's expectations and needs make travel agents and related industry players indispensable which results into great opportunity for TravelTriangle," said Harshavardhan Bothra from RB Investments Pte Ltd. On the traveler front, TravelTriangle provides customisable packages and an auction-oriented concept of best prices from local travel agents. On 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. "In 2016, only 18 million were traveling outside the country, indicating outbound leisure holiday market is in its infancy in India. The outbound leisure market is estimated to be about USD 10 million which conservatively set to double by 2020 and will continue to experience secular growth for the time to come. Travel triangle's business model is unique as it is able to help customers discover, plan and book customised trips and still scale the business at a rapid pace," said Raghav Bahl from Bessemer Venture Partners. The shared travel experiences on the TravelTriangle blog and 95 percent positive reviews on the marketplace has brought the necessary word-of-mouth publicity to the company and has enabled organic growth. A network of over 650 travel partners has also enabled travelers to perfect their dream vacation. To further accelerate its growth, TravelTriangle plans to hire more employees and extending its operations. The company aims to serve more than a 100 holiday destinations across India and worldwide. Its content attracts around 20 lakh visitors on its website every month and serves travellers from more than 65 countries. (ANI)
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