Hotelogix Secures $1.2 M Funding led by Accel Partners
BANGALORE, India, April 11, 2012 /PRNewswire/ --
Hotelogix, the leading cloud-based SAAS (Software as a Service) offering for the small and mid-sized hospitality industry, announced that it has raised USD 1.2 million in funding Accel Partners as lead investors and Blume Ventures, Mumbai Angels as co-investors.
"Hotelogix cloud based hotel solution is easy-to-adapt and very cost efficient. With simplistic approach to solving this complex problem, creating a hotel and running its operations on Hotelogix, is as simple as creating an email account online," said Prabhash Bhatnagar, founder, Hotelogix.
The small and mid-sized hotel industry is largely underserved globally. Hotelogix addresses their needs with a solution to help manage their operations in a simplified way, giving world class services.
Hotelogix offers customers a unified approach for their business needs like Front-desk Operations, Housekeeping, Restaurants etc., and generates higher revenues from the online channels and stay integrated with the external stakeholders of their hospitality business.
Speaking about why they chose to invest, Shekhar Kirani said, "Accel is very excited about Hotelogix's team, their product and the market. With more than 16 million hotel rooms in the world, where, most of them will upgrade to a cloud-based hotel property management platform soon, Hotelogix's cloud-based platform is perfectly positioned for this market."
"We will use the funds to build further foothold on the global market, continuing with the dramatic growth rate of establishing customers in 40+ countries that we have demonstrated in the past two years. We will now focus on creating serious inroads into the North and South American markets. With Accel's global footprint, combined with aggressive and successful track record of Blume Ventures and Mumbai Angels, we look forward to leveraging their experience in becoming a world-class organization" said Aditya Sanghi, CEO, Hotelogix.
Founded in 1983, Accel Partners ventures with entrepreneurs and management teams to build world-class businesses. Accel invests globally using dedicated teams and market-specific strategies with offices in Palo Alto, California, New York City, London and Bangalore.
For more information, please visit the Accel Partners web site at http://www.accel.com
HMS Infotech was incorporated in 2008, and is headquartered at New Delhi NCR, India. Hotelogix, by HMS Infotech, is an end-to-end cloud solution for small and mid-size hotel properties worldwide.
For more information, visit http://www.hotelogix.com
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