RezNext Global Solutions raises $5 million from NEA

RezNext Global Solutions has announced that it has raised $5 million of funding from New Enterprise Associates, Inc. (NEA), one of the world's largest and most active venture capital firms, to further accelerate the company's already impressive growth and customer success.

RezNext offers the best in distribution technology for hotels in a real-time environment, helping hotels demystify and automate the current complex hotel distribution landscape. The technology also levels the playing field for lower and mid-scale hotels, allowing them to quickly get online and leverage the opportunity the internet presents today. RezNext has already onboarded 1200+ customers to its intelligent distribution platform and is in expansion mode, targeting other important markets in Asia, Africa, and the Middle East.

"This investment from NEA is a great vote of confidence in our vision to become the de facto switch for intelligent distribution for hoteliers and demand generators around the globe," said Mike Kistner, Chief Executive Officer, RezNext Global Solutions.

He added, "This funding will help us substantially increase our market penetration, deliver our full product portfolio, and ensure that our customers and partners succeed through increased collaboration, great customer service and improved revenues. This will also fuel our expansion plans in the domestic and international markets."

RezNext was launched in 2012 and has grown quickly to become the preferred distribution partner for mid-market hoteliers in India. Kistner, previously the chairman and CEO of Pegasus Solutions, is a renowned expert and innovator in online distribution with tremendous depth of expertise across the hospitality and technology landscapes.

"RezNext's real-time distribution technology enables hotels to harness the enormous online distribution opportunity and evolve their room reservation processes into a digital business hub that powers the organization's growth," said Ben Mathias, Partner and Executive Director of the NEA's India operations.

"We are confident that RezNext will continue its growth trajectory as the hospitality world increasingly becomes dependent on real-time, data-rich applications to manage their distribution operations efficiently and profitably."