Stayzilla a hotel booking platform has raised over $13 million in its Series C funding from their existing investors Nexus Ventures and Matrix Partners according to the documents filed with RoC. The funds will be utilised in improving technology, product and marketing initiatives.
Between November 2015 and March 2016, the funding was split into 3 portions of $8.8 million, $1.9 million and $2.4 million. Their aim is to list half a million properties by 2018 and adding around 7000 rooms.
Stayzilla was founded in 2005 as Insara by Yogendra Vasupal, Rupal Yogendra and Sachit Singhi. In 2010 it was renamed to Stayzilla. It allows the owners to list their property by filling up a form including deatils of the property & the deatils of the people staying there. It allows travellers to check for budget hotels, home stays. Owners of the house can choose the guest according to their common interest, social, professional and educational connections.
Stayzilla’s has divided their business into 3 categories, Structured which includes 2,3 and 4 star hotels. Unstructured includes lodges, 1start or normal hotels. Alternative stay includes Hostels, Homestays and Bed & breakfast. Across 4,5oo cities it currently offers 30k stays options including Lodges, hotels, homestays and guest house.
Nathan Blecharczyk, co-founder and chief technology officer of Airbnb, said that
“by 2020, the Indian travel market is expected to become worth $40 billion, adding India has become one of Airbnb’s fastest growing markets in the world.”
Last year Competitor of Stayzilla, MakeMyTrip, Yatra and Goibibo has launched thieir hotel business giving direct competition to Oyo rooms and Zo rooms.