RateGain is a leader in hospitality and travel technology solutions for revenue management decision support, rate intelligence, seamless electronic distribution and brand engagement helping customers around the world to streamline their operations and sales.
On 15th January 2015, RateGain announced that TA Associates, a leading global growth private equity firm has completed a minority investment in RateGain. Financial terms of the transaction were not disclosed.
Founder and CEO of RateGain, Bhanu Chopra said “We are very pleased to welcome TA Associates as our first institutional investor. We believe a private equity partnership, particularly with an experienced firm like TA, will prove an effective approach to accelerating growth at this stage of our development. We will work closely with TA in expanding our global reach, investing to be closer to our customers and driving new product development. In addition, we will focus considerably on consolidating various point solutions in the travel and hospitality industries through acquisitions, and on providing one unified revenue management and distribution solution for a seamless experience for our customers.”
“RateGain’s highly innovative solutions are widely appreciated by clients who need real-time access to inventory and pricing data, and greater automation in revenue management,” said Dhiraj Poddar, Co-Head of India at TA Associates Advisory Pvt. Ltd. “The hotel technology segment is also highly fragmented, with a recognized need for further consolidation. Given these industry dynamics, we see continued opportunities for RateGain to further expand its leadership position.”
“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 Associates Asia Pacific Ltd., who will join RateGain’s Board of Directors. “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. We will work with RateGain management to explore new business opportunities among current and prospective clients, and further geographic expansion, particularly in North America and Asia Pacific.”