Startup Spotnana to Use $75 Million in New Funding to Continue Unraveling Business Travel’s Complexities
Photo Credit: Spotnana has raised more money to continue building out a wide-ranging travel technology stack. Unsplash / Shawnanggg
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The company, which is backed by Concur co-founder Steve Singh, is still on its mission to quietly dismantle the underlying technology and commercial kickbacks that the corporate travel industry was built on. That costs a lot of money.
New York startup Spotnana has tapped investors for more money as it continues its mission to unravel the complexities of corporate travel.
It has now raised $75 million in a round led by Durable Capital Partners, with participation from existing investors Madrona Venture Group, ICONIQ Growth, Mubadala Capital and Blank Ventures.
This tops up its $34 million funding in September last year, when the company officially came out of its so-called stealth mode.
The startup describes itself as a travel-as-a-service platform, and will use the financing to drive faster adoption of its technology and accelerate hiring.
Spotnana claims it is building a new architecture for the business travel industry, and has four types of four customers: corporate clients, travel agencies, technology partners and supplier partners. Its goal is to create an open platform, devoid of "biased" content, meaning flights or hotels that are recommended because there are financial incentives involved.
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