Indian hotel IT company, RezNext Global Solutions, has raised US$5 million from New Enterprise Associates (NEA), a global venture capital firm.
Launched in 2012, RezNext specialises in distribution and revenue management solutions, and has already built a customer base of more than 1,200 customers in Asia, Africa and the Middle East. RezNext said the new investment would “further accelerate the company’s already impressive growth”.
“This investment from NEA is a great vote of confidence in our vision to become the de facto switch for intelligent distribution for hoteliers and demand generators around the globe,” said Mike Kistner, CEO of RezNext.
“This funding will help us substantially increase our market penetration, deliver our full product portfolio, and ensure that our customers and partners succeed through increased collaboration, great customer service and improved revenues. This will also fuel our expansion plans in the domestic and international markets.”
NEA said that through the investment, it hopes to “harness the enormous online distribution opportunity and evolve [RezNext’s] room reservation processes into a digital business hub that powers the organization’s growth.”