Mondee Holdings has acquired Rocketrip, a provider of behavior change technology solutions for global business travel programs. No financial terms were disclosed. Rocketrip was backed by Bessemer Venture Partners, Canaan Partners, Genacast Ventures, Google Ventures and Y Combinator.
SAN FRANCISCO, Sept. 9, 2020 /PRNewswire/ — Mondee Holdings, the leading travel technology group with a portfolio of globally recognized brands in the leisure, corporate and retail travel sectors announced today the purchase of Rocketrip, the award winning behavior change technology solution for global business travel programs.
Founded in 2013 and backed by Bessemer Venture Partners, Canaan Partners, Genacast Ventures, Google Ventures and Y Combinator, Rocketrip’s algorithm-based technology transforms business travel by empowering employees to align their booking choices with company interests. Building a company culture where travelers feel valued and empowered has never been more critical as travel begins to resume, and Rocketrip’s solution seamlessly integrates into complex global programs to drive behavior that keeps costs under control and travelers happy.
This strategic acquisition will accelerate the Rocketrip mission by leveraging Mondee’s industry leading travel technology platform and extensive global travel experience. With over $100 million invested in its core travel technology platform, Mondee Holdings will use this acquisition to accelerate its growth in the corporate travel sector where it continues to see significant opportunity for investment, disruptive innovation and leadership.
Mondee’s robust technology platform will dramatically expand Rocketrip’s ability to deliver its transformational behavioral change solution to an even broader range of business travel programs and their myriad technology stacks. The acquisition also helps to strengthen Rocketrip’s global offering through Mondee’s international market knowledge and support infrastructure. Addressing the varied business travel needs of international markets requires deep local expertise and Mondee’s unparalleled reach will allow Rocketrip to create a truly global solution. Mondee’s expansive technology service and content platform will also help expand the Rocketrip capabilities set and bring new innovative solutions and offerings to the travel market.
According to Rocketrip founder and CEO, Dan Ruch, “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. By leveraging Mondee’s technology experience and global infrastructure, we will be able to scale Rocketrip’s reach like never before. The travel ecosystem and needs of travel managers are evolving faster than ever, and this will ensure we can continue to deliver innovative functionality to meet those needs.”
Prasad Gundumogula, CEO of Mondee, added, “We are proud to acquire such an innovative travel technology company with a strong record of growth and success in the corporate market and backed by leading venture capital firms with a history of building disruptive world class technology companies. This acquisition aligns perfectly with our mission to disrupt and transform the travel industry through our innovative technology platform, unmatched breadth of content, and leading global brands offering world-class service and products available through SaaS, mobile, and cloud platforms. Rocketrip has transformed behavior in even the most mature travel programs, showing the need for disruption in the business travel space. We are excited to combine our common visions for transformational technology to bring Rocketrip to even greater heights.”
Mondee Holding is a group of leading travel technology, service, and content companies driving disruptive innovative change in the leisure, corporate, and retail travel markets. They deliver a revolutionary technology platform of SaaS, mobile, and cloud products and services to a global customer base of over 45,000 customers, processing over 50 million daily searches and multi-billion dollars of transactional volume yearly. Founded in 2011, Mondee is headquartered in Silicon Valley, California, with 36 offices in USA and Canada, and operations in India, Greece, Thailand, Costa Rica, and Senegal.
Founded in 2013 and Headquartered in New York City, Rocketrip provides real-time insight into traveler behavior and allows companies to use this data to drive the changes necessary in order to meet major company objectives such as cost savings and online booking compliance. Companies such as Twitter and BMW save 20–30% per year with Rocketrip.