Online Booking Platform for accommodation ranging from hostels to hotels, Stayzilla has raised $16 Million in Series C round led by the existing investors, Matrix Partners and Nexus Ventures. The information leaked out from a document filed with Registrar of Companies. The total funding amount was transferred as 3 tranches, from November 2015 to March 2016.
It was founded in 2005 by Yogendra Vasupal, Sachit Singhi and Rupal Yogendra as Inasra. For the initial 5 years, it served as an online platform for hotel booking, however, in 2010, it got converted into an online hotel aggregator model and renamed itself to Stayzilla.
Currently, Stayzilla holds inventory worth over 30,000 rooms in various segments ranging from star hotels to budget hotels and lodges, hostels to the places providing bed and breakfast. It has registered a presence in over 4500 cities. With the raised funds, it plans to develop better technology to cater to the consumers looking for alternative stays, hostels and homestays.
Prior to this, Stayzilla had raised $20 Million in Series B from Nexus Partners and Matrix in 2015, which was followed by a smaller $0.5 million funding from Indian Angel Network.
In a recent statement, it added that it is hopeful of adding over half a million properties to the platform by 2018, majority of which will be from the alternative stays section.