The financial terms of the deal were not disclosed. In conjunction with the investment, Naveen Wadhera, Co-Head of Asia at TA Associates Asia Pacific Ltd., will join RateGain’s Board of Directors.
Founded in 2004 by Bhanu Chopra, CEO, RateGain provides SaaS-based hospitality and travel technology solutions including revenue management and distribution channel management software, and real-time pricing data and analytics, to allow businesses to streamline operations and sales.
In the travel segment, the company serves suppliers and intermediaries, including airlines, cruise lines, car rental providers, online travel agents, tour operators and wholesalers. In the hospitality segment, RateGain serves the hotel industry, providing solutions to aid in optimizing pricing, ensuring rate parity, managing rates and inventory across booking channels, and tracking and managing online reputations.
The company serves more than 5,500 clients around the world, including approximately 3,000 individual hotel properties. It has additional offices in Spain, the United Arab Emirates, the United Kingdom and the United States.