New Delhi, India, April 15, 2015: South Asia’s fastest growing Hotel Booking Platform Commeasure, has announced that it has received a Million Dollars in seed funding. The lead investor is Jungle Ventures, a Singapore based, entrepreneur backed venture firm that funds and helps start-ups scale across Asia Pacific.
The investment is a clear endorsement of Commeasure’s current progress and future prospects and ambition to become a leading hotel technology brand. Commeasure currently has over 500 hotels as customers and the seed funding allows it the ideal conditions for continuing its aggressive growth strategy.
“We’ve experienced rapid growth since our launch in July 2014, our customer portfolio of 500+ large and small hotels across India, literally from Kashmir to the Andaman Islands and in SE Asia, confirms the need and efficacy of our offering. I envisage Commeasure being implemented in over 5,000 hotel properties over the next couple of years. The right amount of capital infusion at each stage of the business’ growth will ensure our success”, says Amit Saberwal, CEO & Founder of Commeasure. “Our investors have extensive experience in growing technology, e-commerce and digital media companies, and we look forward to combining that know-how with our mission to help hotels increase their direct bookings by optimizing their online sales,”
“By delivering a beautifully simple solution to a complex technology problem, Commeasure is rapidly gaining traction in a market that is ripe for transformation,” said Amit Anand, Founding Partner
at Jungle Ventures who has previously led rounds in companies such as travelmob (Acquired by HomeAway), CatchThatBus and GoVoyagin in the travel sector. “APAC’s fragmented lodging landscape still suffers from low online penetration compared to Europe and US, which suggests that it holds significant opportunity for growth. We are thrilled to partner with Commeasure as the company expands its offering across the Asia-Pacific region.”
Commeasure offers a plug and play solution to hotels, chains, independent and boutique hotels, resorts, B&Bs and service apartments, across the Asia-Pacific region and in India. Some of its current customers include Sarovar Hotels, Mapple Hotels, Jukaso Hotels, Clarks, Classic Group and Grand Mumtaz Group among others.
The Commeasure platform has all the tools that are needed for a hotel to distribute and manage their digital presence thereby lowering their cost of distribution and increasing direct reservations. The platform is designed to be affordable, highly scalable and is built on cloud with the latest technology stack. Deeply aligned with the success of the hotel, Commeasure requires little training and comes with step-by-step guidance.
Commeasure’s solution helps to address a growing challenge that hotels face with customer acquisition and retention. With customers checking for hotels and prices online, customer acquisition for smaller hotels is complicated. Current solutions are either too expensive or offer only part solutions. Commeasure’s result based, transparent and success-oriented offering lets hotels distribute their property on OTAs as well as their own website and mobile channels and not be solely reliant only on third party distributors.
Online booking for hotels is expected to grow by nearly 30 percent in India.
By 2015, online hotel gross bookings in APAC is estimated to reach $34.5 billion, a 51% increase over 2012. Bookings generated via hotel websites would be about $12.3 billion. While mobile booking transactions are expected to more than double between 2014 and 2016 in the three main travel categories (air, hotel and car rental).
Commeasure is the brainchild of Amit Saberwal, CEO & Founder and Kunwar Asheesh Saxena, CTO and Co-founder. Prior to founding Commeasure, Amit was Chief Business Officer – MakeMyTrip Ltd., India’s largest online travel company and was on the board of HotelTravel.com. Based in Singapore, he was a part of the leadership team that took the company to the most successful IPO in three years on NASDAQ in 2010.
Previously, Asheesh was Senior Vice President – Product Development and Engineering with Knimbus and Director Technology Development – Online Hotels for MakeMyTrip Ltd.