Total amount raised
$48.3 Million
Latest funding date
9/1/2024
Location
Atlys has successfully raised $4.25 million in its latest funding round, bringing the total number of funding rounds to four. The platform specializes in processing visas for travelers to over 120 destinations, ensuring timely and efficient service.
With backing from investors like Elevation Capital and Headline, Atlys continues to innovate in the travel and visa application industry. Keep reading to explore the intricacies of Atlys's fundraising journey and the investors supporting this dynamic platform.
What Is Atlys?
Atlys is a private company based in San Francisco, California, specializing in visa application processes and travel services. The company operates in multiple industries, including FinTech, Legal, SaaS, Software, Tourism, and Travel. Atlys has between 101-250 employees and has raised funding through a Series B round.
With offices in New Delhi, Dubai, London, San Francisco, and New York, Atlys guarantees timely visa processing for over 120 destinations. The company has processed over 5 million visas and maintains a high customer satisfaction rating of 4.91.
How Much Funding Has Atlys Raised?
- Seed Round
- Amount Raised: USD 4,250,000
- Date: October 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To simplify visa applications, reduce rejection rates, and cut processing times for over 150 destinations.
- Series A
- Amount Raised: USD 12,000,000
- Date: September 2023
- Lead Investors: Elevation Capital, Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at initial scaling and development of the platform.
- Series Unknown
- Amount Raised: USD 12,000,000
- Date: March 2023
- Lead Investors: Accel, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growth and expansion of Atlys, enhancing its visa application processes and travel services.
- Series B
- Amount Raised: USD 20,000,000
- Date: September 2024
- Lead Investors: Elevation Capital, Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive company expansion, enhance product and engineering capabilities, build a strong leadership team, and scale global operations, with a focus on the Middle East.
Total Amount Raised: USD 48,250,000. Current Valuation: Not publicly disclosed.
Key Investors
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that invests in early-stage startups. They have a strong presence in the Indian market and focus on high-growth potential companies.
- Investment Focus Areas: Technology, consumer internet, SaaS, financial services.
- Notable Investments: Swiggy, Paytm, Meesho.
- Peak XV Partners
- Details: Formerly known as Sequoia India, Peak XV Partners is a venture capital firm focusing on early and growth-stage investments. They are known for their significant contributions to the startup ecosystem in India and Southeast Asia.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Byju's, Zomato, OYO Rooms.
- Accel
- Details: Accel is a global venture capital firm that partners with exceptional founders to build world-class companies. They have a strong track record in backing successful startups.
- Investment Focus Areas: Internet technology companies, software, mobile, enterprise sectors.
- Notable Investments: Facebook, Dropbox, Slack.
- Sequoia Capital
- Details: Sequoia Capital is a leading venture capital firm that invests in seed, early, and growth-stage companies. They have a global presence and a history of backing industry-defining companies.
- Investment Focus Areas: Technology, healthcare, consumer, financial sectors.
- Notable Investments: Apple, Google, Airbnb.
- Andreessen Horowitz
- Details: Andreessen Horowitz, also known as a16z, is a private venture capital firm that backs bold entrepreneurs. They are based in Silicon Valley and have a diverse portfolio of investments.
- Investment Focus Areas: Technology companies across various stages.
- Notable Investments: Facebook, Twitter, Airbnb.
What's Next for Atlys?
Atlys is poised to capitalize on the booming international travel market, which is projected to grow at a compound annual growth rate of 10.5% over the next decade. With a focus on expanding into the Middle East and enhancing its product and engineering capabilities, Atlys aims to meet the growing demands of travelers, particularly from India, where outbound travel has surged by 20% year-on-year.
Future fundraising opportunities appear promising as Atlys continues to scale its operations and attract new investors. The company’s rapid growth and market penetration make it an attractive candidate for further investment rounds, potentially leading to strategic acquisitions to enhance technological capabilities or expand market reach.
However, Atlys may face challenges such as competition from other visa service providers, navigating complex immigration regulations, and maintaining the reliability of its AI-powered visa evaluator. Ensuring seamless and on-time visa processing will be crucial as the company scales globally.
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