The investment is a clear endorsement of Commeasure’s current progress and future prospects and ambition to become a leading hotel technology brand.
South Asia’s Hotel Booking Platform Commeasure has announced that it has received $ 1 million in seed funding from Jungle Ventures, a Singapore based, entrepreneur backed venture firm that funds and helps start-ups scale across Asia Pacific.
Jungle's portfolio include companies such as - Indiabased LivSpace, Pokkt and Zipdial (Acquired by Twitter), Singapore based travelmob (acquired by NASDAQ listed HomeAway), GoVoyagin ,CrayonData and Tradegecko, Malaysiabased iMoney and CatchThatBus,Thailand based PomeloFashion and Australia based Edrolo, amongst several others.
Commeasure was incorporated in February 2014 and is the brainchild of AmitSaberwal, CEO and Founder and Kunwar Asheesh Saxena, CTO and Co-founder. Prior to founding Commeasure, Amit was Chief Business Officer - MakeMyTrip Ltd. 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.
“Commeasure currently has over 500 hotels as customers. The investment is a clear endorsement of Commeasure’s current progress and future prospects and ambition to become a leading hotel technology brand,” informed the company’s press release.
“We’ve experienced rapid growth since our launch in July 2014, our customer portfolio of 500 plus large and small hotels across India, from Kashmir to the Andaman Islands and in SE Asia, confirm 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”, said Amit Saberwal, CEO and Founder, 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,” added, Saberwal.
“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.
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.
By 2015, online hotel gross bookings in APAC is estimated to reach $34.5 billion, a 51 per cent 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’s aim is to simplify all aspects of digital customer acquisition and loyalty for independent hotels by offering a plug and play system that focuses on only what matters – customer bookings. It helps hotels to lower cost of distribution and provide all required tools to manage their digital presence.