Mondee Holdings is moving into the corporate travel rewards space with an acquisition of U.S.-based Rocketrip.
Terms of the deal were not disclosed.
Rocketrip, created by founder Dan Ruch in 2013 (Startup Stage here), integrates with a company's existing travel management tool and predicts the cost of a business trip and then rewards employees with a portion of the savings they made when they secured a booking.
The acquisition will help accelerate Rocketrip's expansion plans and spearhead Mondee's strategy to move into the corporate travel sector.
Ruch says: "It has never been more important for brands to place their travel culture and employees at the center of their program.
"Aligning the needs of travelers with the company is no longer an option but a necessity in this new travel environment."
The company had raised $32 million in a series of funding rounds since 2013, including a $15 million Series C in 2018 from Google Ventures.
Other backers in that round included Bessemer Venture Partners and Canaan Partners, both of which have backed the company with earlier investments.
Erik Nordlander, a partner at GV, joined the Rocketrip board of directors as part of the investment deal.