NEA commits $5m to India's RezNext
New Enterprise Associates (NEA) has invested $5 million in India's RezNext Global Solution, a platform for managing hotel bookings.
Set up in 2012, RezNext describes itself as a "real-time distribution company" that uses a cloud-based platform to coordinate between mid-market hoteliers and online travel booking portals such as ClearTrip and BookaTrip4Me.com.
The start-up already claims to serve over 1,200 customers via its platform and is now targeting other markets in Asia, Africa, and the Middle East.
According to a statement, the funding will be used to increase the company's market penetration, broaden its product portfolio, and fund its expansion plans.
"RezNext's real-time distribution technology enables hotels to harness the enormous online distribution opportunity and evolve their room reservation processes into a digital business hub that powers the organization's growth," said Ben Mathias, partner and executive director of the NEA's India operations.
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