Itilite, Bengaluru-based (SaaS) travel and expense management platform, has raised $29 million in Series C round. The fresh funding round was led by Tiger Global and Dharana Capital.
From the list of existing investors Matrix Partners India and Tenacity Ventures participated in the round.
ITILITE was founded by Mayank Kukreja, and Anish Khadiya in the year 2017. The startup helps in enabling the businesses to automate their travel and expense processes, boosting efficiency and decreasing cost.
ITILITE is planning to utilize the fresh funding capital in following ways like:
The company claims to have recorded 500% growth in the last two years.
The startup’s AI-based virtual Travel & Expense (T&E) consultant "Mastermind" provides real-time recommendations based on data insights.
With these insights ITILITE’s customers, which include Automation Anywhere, Byjus, Swiggy, Zetwerk among others, can optimize their T&E spending and processes. More than 500,000 users and 300 companies in India and the US use ITILITE.
“With the latest fundraise, we will accelerate our go-to-market journey and deepen our large company relationships,” Anish Khadiya, Co-Founder and CBO says.
“People are back to offices and business travel is back in the conversation. Business travel bookings are surging and we are witnessing thousands of trips happening on our platform all over again, and this is just a new beginning,” Mayank said.