How Much Did ITILITE Raise? Funding & Key Investors

ITILITE has successfully raised funding over 4 rounds, with the latest being a Series C round involving investors such as Dharana Capital and Tiger Global Management. The platform specializes in corporate travel and expense management, offering features like AI travel analysis and corporate cards.

Keep reading to explore the intricacies of ITILITE's fundraising journey and the investors backing this innovative platform.

What Is ITILITE?

ITILITE is a corporate travel and expense management platform based in Bangalore, Karnataka, India. The company operates in multiple industries, including Business Travel, Information Technology, Internet, SaaS, and Travel.

Founded by an undisclosed team, ITILITE has grown to employ between 251-500 people. The platform simplifies travel booking and expense management, leveraging AI tools and offering features like corporate cards and negotiated travel rates.

How Much Funding Has ITILITE Raised?

1. Series C
   • Amount Raised: USD 29,000,000
   • Date: April 2022
   • Lead Investors: Dharana Capital, Tiger Global Management
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To invest in product innovations, brand building, and scaling up go-to-market teams, particularly in the US market.
2. Series B
   • Amount Raised: USD 13,000,000
   • Date: April 2020
   • Lead Investors: Vy Capital, Greenoaks Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support growth and expansion, achieving a 5x increase in business.
3. Series A
   • Amount Raised: USD 4,200,000
   • Date: January 2019
   • Lead Investors: Matrix Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and expand market reach.
4. Seed
   • Amount Raised: Not publicly disclosed
   • Date: November 2017
   • Lead Investors: Matrix Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support initial product development and market entry.

Total Amount Raised: USD 46,200,000. Current Valuation: Not publicly disclosed.

Key Investors

• Tiger Global Management
  • Details: Tiger Global Management is an investment firm that focuses on private and public companies in the internet, software, and financial technology sectors. They have been investing since 2001 and are known for their aggressive investment strategies.
  • Investment Focus Areas: Technology, internet, software, consumer, financial technology.
  • Notable Investments: Facebook, LinkedIn, Spotify, Stripe, ByteDance.
• Dharana Capital
  • Details: Dharana Capital is an investment firm that focuses on technology companies in India and other emerging markets. They are known for their concentrated investments in category-defining companies.
  • Investment Focus Areas: Technology companies in India, emerging markets.
  • Notable Investments: Reddit, Neuralink, Upgrade, Coalition, Zomato, Urban Company.
• Matrix Partners India
  • Details: Matrix Partners India focuses on early-stage investments in technology and technology-enabled companies. They have a strong presence in the Indian market and have backed several successful startups.
  • Investment Focus Areas: Early-stage technology, consumer businesses.
  • Notable Investments: Ola, Practo, Quikr, Dailyhunt.
• Tenacity Ventures
  • Details: Tenacity Ventures is an investment firm that generally focuses on early to growth-stage technology companies. They have participated in multiple funding rounds for ITILITE.
  • Investment Focus Areas: Early to growth-stage technology companies.
  • Notable Investments: Not explicitly mentioned.
• Vy Capital
  • Details: Vy Capital is a global technology investment firm that focuses on long-term investments in category-defining technology companies. They have a significant presence in both private and public markets.
  • Investment Focus Areas: Technology, internet, software, consumer, financial technology.
  • Notable Investments: Reddit, Neuralink, Upgrade, Coalition, Zomato, Urban Company.

What's Next for ITILITE?

ITILITE stands at the cusp of significant growth opportunities, particularly in the U.S. market, where the resurgence of business travel post-pandemic presents a fertile ground for expansion. The company’s AI-driven solutions and streamlined expense management tools position it well to capitalize on the increasing digitization of travel and expense management.

With a robust backing from investors like Tiger Global and Dharana Capital, ITILITE is poised for future fundraising rounds to fuel its ambitious growth plans. The company’s impressive 500% growth since its Series B round and its ability to serve over 500,000 users underscore its potential to attract further investment.

However, ITILITE must navigate challenges such as intense competition and the need to continuously innovate. Maintaining high user satisfaction and adapting to regulatory changes will be crucial as the company scales its operations. Despite these hurdles, ITILITE’s strategic focus on product innovation and market expansion bodes well for its future trajectory.

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