TravelTriangle raises $12 million in Series C funding

Online travel marketplace TravelTriangle on Tuesday announced that it has raised USD 12 million Series C funding led by Fundamentum, a growth-capital fund backed by Nandan Nilekani and Sanjeev Aggarwal.

SAIF Partners, Bessemer Venture Partners and others also participated in the investment. Ashish Kumar, Partner, Fundamentum will join the TravelTriangle board.

The funds will be used to invest in building technology that further strengthens the customer interaction layer using artificial intelligence and machine learning. It will also expand in new destinations and invest in brand building.

“We met more than 50 companies before investing in TravelTriangle and we were very impressed with the team. We believe that this team is amongst the very best that we have seen in the Indian technology eco-system, by virtue of their learnability, customer-centricity, frugality, and hunger to build a very large business. They have the foresight and demonstrated operational experience to win this category. We are very excited about partnering with the team to build this business together," said Nandan Nilekani.

The company was founded in 2011 by Sankalp Agarwal, Sanchit Garg and Prabhat Gupta.

Sankalp Agarwal, Co-Founder & CEO, TravelTriangle said, “The vision of the company is to encompass all the components of online holiday eco-system and be the one-stop solution for the traveler. We are continually growing and have been the fastest growing holiday player with the highest NPS (Net Promoter Score). To win the confidence of pedigreed entrepreneur investors like Nandan and Sanjeev is a great validation of our journey thus far. Our success up till now has been the effort of our super motivated and diligent team."

TravelTriangle offers a SaaS-based CRM platform for travel agents to manage and analyse customer interactions and draw insights from there to improve customer retention and drive sales growth.

Ashish Kumar, Partner, Fundamentum said, “Holidays is a very large and profitable market, and requires a team with product-first DNA who can take along multiple ecosystem players. Sankalp and the team have the right combination of technology expertise, business acumen and domain knowledge to win the holiday travel market. We are delighted to collaborate with TravelTriangle and look forward to the exciting next phase of growth.”