New York City startup Spotnana announced a $75 million Series B round led by Durable Capital Partners LP. Founded by Sarosh Waghmar and Shikhar Agarwal in 2020, the company offers a platform for booking and planning business travel.
Seattle-based Madrona Venture Group, which co-led a Series A round last year, invested in the latest round, along with ICONIQ Growth, Mubadala Capital, and Blank Ventures. “Spotnana is focused on rebuilding the technology infrastructure for the travel industry, effectively building AWS for the multi-trillion travel industry,” Steve Singh, co-founder of Concur and managing director at Madrona, told GeekWire. “It is an open platform that anyone in the industry can innovate upon.”
Singh predicts that business travel will come “roaring back” after the pandemic crushed many travel companies. Air travel and tourism are not expected to return to 2019 levels before 2024, McKinsey reported in May.
