Budget hotel brand Treebo Hotels has raised $6 million in its latest funding round.
Existing investors Matrix Partners India, SAIF Partners, Bertelsmann India Investments and Ward Ferry Management made up the latest cash injection.
In a LinkedIn post, Sidharth Gupta, co-founder of the Bengalaru, India-based business, says the funds will go towards building products for Treebo’s SaaS business.
A company statement says technology has always been a “core area of focus” and that the company plans to boost its engineering and product teams.
In a recent blog post, the company highlights the growth in Saas and the key benefits for hotels of a cloud-based property management system.
The company launched its Hotel Superhero technology last year building reservations, property management and other functionality into one product.
Treebo has raised more than $60 million across multiple rounds in recent years.
It raised almost $17 million in 2016 followed by a $35 million Series C round in 2017.
The company has about 600 properties across India in its network.