Gurugram-based SaaS startup iMangeMyHotel has secured $50K from Jaarvis Accelerator and has been selected for their acceleration program.
An ERP SaaS product providing end to end solutions for hotels, iManageMyHotel was launched in October 2015 by Sourav Goswami (CEO & Co-Founder) and Amit Banerjee (CTO & Co-Founder). Basically, it provides cloud based property management solutions for budget hotels that also works offline for low bandwidth remote locations.
At present it provides services such as automating hotel operations, maximising inventory distribution, reduce over-bookings, integrating front desk, channel management, restaurants & POS management, online reservations and more.
As said by Sourav, “More than the funding, the value Jaarvis Accelerator provides is in our go-to- market strategy, industry connects, investor relationships and other such important business growth metrics. We plan to aggressively expand in the fast growth Asia Pacific market and Jaarvis’ strong presence and network in these countries will definitely give it a boost. With a mature established product and a predictable revenue stream, this funding will help us meet our goals for our next Series A funding”.
The startup claims to have association with over 150+ hotels. It works on a subscription-based model and charges commission for the online bookings through its online booking engine linked to online travel portals like MakeMyTrip, Expedia, Booking.com, Goibibo etc.
Earlier in November 2015, it had also raised funds from the Indian OTA Cleartip.
As per facts, there are around ten million budget hotels across Asia-pacific and 150,00+ in India. The Indian tourism industry is projected to touch $157 Bn by 2024 – up from $80 Bn in 2013. The stats also reveal that there are over 85% of rooms available in budget category and only 16% of that inventory is currently available online.
Jaarvis Accelerator was launched in 2015 invests in the enterprise B2B segment startups active in AI, fintech, blockchain, IoT, SaaS, robotics, big data etc. DrinksOnMe, EduRev.In, Comparometer, Greentooth Technologies are few startups that have graduated from their first batch.