TA buys stake in India SaaS provider RateGain

The size of the investment was not disclosed but local media reports put it at INR2-3 billion ($32-48 million) for an overall valuation of more than INR1 billion ($162 million). TA is the company's first institutional investor.

Founded in 2004, RateGain develops revenue management and distribution channel software as well as real-time pricing data and analytics. These are used by the likes of airlines, cruise lines, car rental providers, online travel agents and tour operators to price their products competitively. On the hospitality side, RateGain's helps hotels manage rates and inventory across book channels.

The company serves more than 5,500 clients globally, including around 3,000 individual hotel properties. It is headquartered in Noida, India, with additional offices in Spain, the United Arab Emirates, the UK and the US.

"We have actively tracked RateGain for many years and are pleased to have advised on the investment in this highly attractive business," said Naveen Wadhera, co-head of Asia at TA, in a statement. "In addition to a compelling SaaS model, the company has strong financial momentum and a high-quality and growing customer base across both the hospitality and travel segments."

The private equity firm plans to work with RateGain on developing new business opportunities and further geographic expansion, particularly in North America and Asia Pacific.

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• Topics
• Technology
• South Asia
• Expansion
• India
• Growth capital
• Technology