SaaS-based Travel and Expense Management Startup: ITILITE raises $29M in Series C round via Tiger Global, other
- ByStartupStory | April 13, 2022
A software-as-a-service (SaaS) travel and expense management platform, ITILITE, has raised $29 million in Series C round led by Tiger Global and Dharana Capital.
The round also saw participation from existing investors Matrix Partners India and Tenacity Ventures.
Bengaluru-based ITILITE was founded by IIT-Delhi and IIM-Ahmedabad alumnus Mayank Kukreja, and IIT-Kharagpur and IIM-Lucknow graduate Anish Khadiya in 2017. Businesses are helped by the Startup to automate their travel and expense processes, increasing efficiency and reducing costs.
To invest more in product innovations, brand building, and scaling up its go-to-market teams, ITILITE will use the capital, it said in a release.
Anish Khadiya, Co-Founder and CBO said that they will accelerate our go-to-market journey and deepen our large company relationships,with the latest fundraise.
When it raised $13 million in its Series B led by Greenoaks Capital and Vy Capital, since its last fundraise in April 2020. A 5x growth has been registered by the company Matrix Partners India. To have grown 500 percent in the last two years has been claimed by the company.
The Real-time recommendations based on data insights are provided by the startup’s Artificial Intelligence-based virtual Travel & Expense (T&E) consultant “Mastermind”.
With these insights ITILITE’s customers, which include Swiggy, Automation Anywhere, Byjus, Zetwerk among others, can optimise their T&E spending and processes. he startup says, ITILITE is used by more than 500,000 users and 300 companies in India and the US.
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