This infusion of funds will be used by the company to hire more talent and enhance its technological offerings. Sankalp Agarwal, co-founder and CEO at TravelTriangle told TechCircle that although the company is profitable they could feel a need to invest in technology and product. This round of funding from SAIF Partners will enable them to create vital intelligence around pricing, engine, user data and mobile.
TravelTriangle was founded in 2010 as a marketplace for travel agents who can create online customized tour packages for travellers. The website also enables customers to connect with travel agents anywhere, get tour quotations, customize the trip according to their preferences and book the plan directly.
TravelTriangle claims to have 30,000 to 40,000 unique personalized itineraries from 430 agents on their website in addition to reviews of 1400 agents written by users. It also claims to attract over 1 lakh unique visitors a month.
The TravelTriangle website itself is pretty easy to use. To initially plan your travel, no registrations seems to be needed, although giving your phone number and email id are mandatory. After entering the initial criteria (including the interesting ‘Trip Planning Stage’) the website asks you for further details, such as your budget, accommodation requirements etc. Once submitted an email verification is required, after which you receive various trip plans from different agents for 72 hours.
TravelTriangle claims to have an annual gross transaction value of around $3.5 million. The website serves customers from 33 countries, although most of the visitors are from India. The packaged tours and travels industry is still growing in India, but the competition is strong with many players vying for market dominance.
Other funding activity in the industry
Pune-based trip planning start-up TripHobo (previously JoGuru) had raised an undisclosed amount from Kalaari Capital. Mygola, another travel planning website, had raised $1.5M from Helion Venture partners last year in October. Social travel marketplace Touristlink, also raised an unknown sum of seed funding from the African accelerator 88mph.ac. Read more about it here.