Travel technology firm Spotnana raises $75 mn in Series B funding round

Spotnana, a cloud-based travel technology platform, has raised $75 million in a funding round led by Durable Capital Partners LP, with participation from existing investors Madrona Venture Group, Blank Ventures, ICONIQ Growth, and Mubadala Capital.

Spotnana said the Series B funding will help it in hiring and promoting its Travel-as-a-Service Platform, which provides cloud-based technology to corporations, travel management companies, suppliers, and technology providers. Spotnana has raised over $100 million in two years, and its employee base has more than doubled since 2021 to over 200 people.

Spotnana was founded by two Indian entrepreneurs: Sarosh Waghmar, the company’s CEO with more than two decades of travel industry experience and Shikhar Agarwal, the chief technology officer and formerly a founding engineer at ThoughtSpot, an analytics platform.

“The infrastructure that has been in place for decades puts huge barriers between suppliers and travelers. We provide an open platform that enables the entire travel ecosystem to work together to deliver unparalleled travel experiences, similar to the way Amazon has democratized access to computing resources in the cloud,” said Waghmar.

“Spotnana is building something new that the travel industry has never seen before. We’re bringing together engineers from Microsoft, Google, and other technology leaders to build a new high-performance infrastructure for travel,” said Agarwal.

“Spotnana is accelerating innovation throughout the travel industry by enabling everyone to benefit from the power of cloud computing, microservices, an open platform, and open APIs,” said Steve Singh, managing director at Madrona Venture Group and executive chairman at Spotnana.