Skift Take
Digital marketing and distribution to the highly fractured global hotel industry is a hot category that's attracting lots of funding and attention. Let's see what RezNext CEO Mike Kistner, formerly of Pegasus Solutions, now a competitor, can do with a nimble startup as opposed to a legacy hotel distribution company.
RezNext Global Solutions, which offers a platform to bring hotels online and is headed by a former CEO of Pegasus Solutions, picked up $5 million in a Series A funding round as it seeks to expand beyond its India base.
New Enterprise Associates, which invests in tech companies, often with the aim of taking them public, funded the $5 million round.
Founded in 2012 and led by CEO Mike Kistner, the Bangalore-based startup specializes in bringing small to midsize hotels online and connecting them to distributors. RezNext recently signed a partnership with Cleartrip to enable hoteliers to connect to the Indian online travel agency for distribution.
RezNext plans to use the funding to expand in Asia, Africa and the Middle East and to build out its platform.
A RezNext spokesperson declined to detail how much the company previously raised in seed funding.
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Tags: cleartrip, funding, hotels
Photo credit: RezNext Global Solutions CEO Mike Kistner addresses the team at an anniversary celebration on July 30, 2014. RezNext Global Solutions