Online distribution platform for hotels & channel managers RezNext Global Solutions has raised $5 million funding from New Enterprise Associates (NEA). The funds will be used to accelerate the company’s growth.
Founded in 2012, RezNext offers technology for mid-scale hotels in a real-time environment and helps them automate the current complex hotel distribution landscape. RezNext claims that it has already onboarded 1200 plus customers to its distribution platform and is in expansion mode, targeting other important markets in Asia, the Middle-east and Africa.
However, RezNext could face competition from Amazon as there have been reports that the technology giant is looking to enter the hotel distribution and booking space in the United States. While RezNext’s geographic markets might be different, it won’t take too long for Amazon to catch up.
Earlier in 2013, RezNext partnered with online travel agent Yatra.com and hotels and holidays booking site Travelguru.com for providing users with real-time hotel information. Users can check the availability of rooms, prices and offers, book rooms and get automated confirmations for the same.
NEA’s recent investments
Earlier in this month, NEA invested a seed funding of $1.5 million in online events stationery platform Inksedge with participation from Pinnacle Ventures, Milliways Ventures & angel investors like Vuclip founder & CEO Nickhil Jakatdar, Gokul Rajaram, Mark Perry and Anil Kamath. The funds will be used for customer acquisition & marketing, hiring technology professionals, improving Inksedge’s technology platform & for launching new products.
And in November, Big-data and marketing SaaS company Blueshift Labs, has raised $2.6 million in a seed round of funding led by Nexus Venture Partners and New Enterprise Associates (NEA), with participation from various angel investors including former CMO of ExactTarget Tim Kopp and founders of Kosmix and Cambrian Ventures Anand Rajaraman and Venky Harinarayan among others.