Spotnana Revenue, Valuation, Funding & Investors

Spotnana is valued at $319M as of September 2021, a 13.3x multiple on its last reported $24M revenue.

Last Spotnana valuation

$319M

Series A · Sep 2021

Last Spotnana funding round

$2M

Undisclosed stage · Sep 2026

Spotnana revenue

$24M

Series A · Sep 2021

Key investors in Spotnana

  • Madrona
  • ICONIQ Capital
  • Mubadala
  • Global Founders Capital
  • 8VC
  • Gokul Rajaram

Spotnana Overview

About Spotnana

Spotnana is a New York-headquartered travel infrastructure platform launched in 2021. Its Travel-as-a-Service model integrates APIs for corporate and consumer bookings, supplier inventory sales, and global distribution. Serving enterprises with direct connections to airlines, hotels, and rails, Spotnana processes billions in annual travel volume.


Founded

2020

HQ

United StatesNew York City, NY

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$24M (Sep 2021)

Valuation

$319M (Sep 2021)

Spotnana Valuation

Spotnana is currently valued at $319M, based on its Series A in September 2021.

The $34M round was led by ICONIQ Capital and Madrona, with participation from Vinod Marur, Gokul Rajaram, Amex Ventures, Decibel Partners, Jeetu Patel and 3 other investors.

Spotnana valuation by funding round

Spotnana valuation by funding round
DateStageValuationRevenue Multiple
Sep 2021Series A$319M13.3x

Spotnana Revenue

Spotnana's latest recorded revenue is $24M, as of its Series A in September 2021. At a $319M valuation, that implies a 13.3x revenue multiple.

Spotnana revenue by funding round

Spotnana revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Sep 2021$24M$319M13.3xSeries A

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Spotnana Funding History

Spotnana has raised a total of $118M across 4 funding rounds.

Spotnana's first fundraising round was a $7M seed round in January 2020. The most recent completed round was a $2M undisclosed-stage round in September 2026.

Spotnana funding rounds

Spotnana funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2026Undisclosed stage-$2M--
Jul 2022Series BDurable Capital Partners (lead); ICONIQ Capital; Blank Ventures; Mubadala; Madrona$75M-Spotnana is a travel-as-a-service platform offering a unified cloud-based technology stack for corporations, travel management companies, suppliers, and technology providers to book and manage travel with a consistent interface for travelers and agents. Founded in 2019 in New York, it aims to modernize the travel industry's infrastructure by breaking down barriers between suppliers and travelers. The company raised $75 million in a Series B funding round on July 26, 2022, led by Durable Capital Partners, with participation from existing investors Madrona Venture Group, ICONIQ Growth, Mubadala Capital, and Blank Ventures. This followed a $41 million raise less than a year earlier when exiting stealth. The funding supports accelerated hiring, particularly in engineering, product, and travel operations, product suite expansion, enhanced customer journey, growth of existing products, talent strengthening, and boosts to data science and engineering capabilities. Spotnana positions itself to capitalize on the rebounding corporate travel market, which was $700 billion in 2020 despite the pandemic and is projected to reach $2 trillion within six years. The round brings total funding to $116 million across five rounds. The platform emphasizes industry-first features and innovations to enable personalization in travel booking.
Sep 2021Series AICONIQ Capital (lead); Madrona (lead); Vinod Marur; Gokul Rajaram; Amex Ventures; Decibel Partners; Jeetu Patel; Mubadala; Akshay Bhargava; Scott Belsky$34M$319MSpotnana is a travel-as-a-service platform providing cloud-based technology infrastructure for the business travel industry. The company emerged from stealth in September 2021 with an open global platform targeting the $1.4 trillion corporate travel market, combining online booking tools, a booking engine, mid-office replacement, and data integrations for travel inventory across a single cloud-based technology stack usable by corporations, travel management companies, suppliers, and technology providers. In September 2021, Spotnana announced a $34 million Series A funding round co-led by ICONIQ Growth and Madrona Venture Group, with participation from Decibel VC, Mubadala Capital, and American Express Ventures. The round valued the company at $319.36 million post-money. This funding followed a previously undisclosed $7 million seed round from 2020. The Series A brought total funding to $41 million and was aimed at expanding engineering teams, building travel operations infrastructure, and continuing product development. At launch, Spotnana had piloted with more than 50 corporate travel customers and grown to over 120 employees. Founder and CEO Sarosh Waghmar noted the company had previously built a profitable business managing over $70 million in annual travel spend. The company described itself as having achieved strong product-market fit and go-to-market execution. Steve Singh, former founder and CEO of Concur, joined as chairman and investor, while Greg Stanger, former CFO of Expedia, joined the board as part of the investment. Following this Series A, Spotnana raised a $75 million Series B round in July 2022 led by Durable Capital Partners, bringing total funding to over $100 million by that point. The company continued rapid expansion, scaling to over 200 employees across eight global locations while securing large corporate customers and travel management company clients.
Jan 2020Seed8VC (lead); ICONIQ Capital; Global Founders Capital; Shah Capital Partners; Madrona$7M-Spotnana raised an undisclosed $7 million seed round in 2020 from investors including ICONIQ, Madrona Venture Group, 8VC, and Global Founders Capital. The company, founded in 2019 or 2020, operates as a cloud-based travel technology platform providing travel-as-a-service for buyers and suppliers with inventory from global sources. It aims to rebuild travel industry infrastructure using AI and massive data volumes. Headquartered in New York or Palo Alto with major operations in Bengaluru, Pune, and Mumbai, Spotnana had grown its workforce significantly by 2022. The 2020 seed preceded a $34 million Series A in September 2021 co-led by ICONIQ and Madrona, followed by a $75 million Series B in July 2022 led by Durable Capital Partners.

Who has invested in Spotnana?

15 investors have backed Spotnana across its funding rounds, including Madrona, ICONIQ Capital, Mubadala, Global Founders Capital, 8VC and Gokul Rajaram.

Lead investors include Durable Capital Partners, ICONIQ Capital, Madrona and 8VC.


Spotnana Investors

Investors in Spotnana by funding rounds participated
InvestorHQRoundsRoleFirst check
ICONIQ CapitalUnited StatesSan Francisco, CA3LeadJan 2020
MadronaUnited StatesSeattle, WA3LeadJan 2020
MubadalaUAEAbu Dhabi2ParticipantSep 2021
Vinod MarurUnited StatesSan Francisco, CA1ParticipantSep 2021
Gokul RajaramUnited StatesSan Francisco, CA1ParticipantSep 2021
8VCUnited StatesSan Francisco, CA1LeadJan 2020
Amex VenturesUnited StatesNew York City, NY1ParticipantSep 2021
Durable Capital PartnersUnited StatesWashington, DC1LeadJul 2022
Decibel PartnersUnited StatesSan Francisco, CA1ParticipantSep 2021
Blank VenturesUnited StatesSan Francisco, CA1ParticipantJul 2022
Global Founders CapitalGermanyBerlin1ParticipantJan 2020
Jeetu PatelUnited StatesSan Francisco, CA1ParticipantSep 2021
Shah Capital PartnersUnited StatesSan Jose, CA1ParticipantJan 2020

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Spotnana

Spotnana has acquired 1 company to date.

Last acquisition by Spotnana was on August 26th 2026. Spotnana acquired TROOP for undisclosed valuation.


Latest Acquisitions by Spotnana

TROOP
Description
TROOP is a San Francisco-headquartered data platform that aggregates insights on venue safety, sustainability, service quality, and cost savings to guide corporate event planning. The company processes data from health authorities, travel providers, and ESG ratings to recommend optimal locations for in-person meetings worldwide. TROOP supports enterprises in industries like technology and finance by delivering real-time analytics on COVID protocols, carbon footprints, and lodging expenses. Acquired by Cvent in 2022, it now powers hybrid event strategies for global organizations.
HQ CountrySpain
HQ City
Madrid
Deal Date26 Aug 2026
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Spotnana Competitors

Spotnana competitors include listed companies like On The Beach Group, EaseMyTrip, ZKH Group and trivago, and private ones like Qyer.com and Holiday Swap.

Public and private companies comparable to Spotnana
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Qyer.comChinaBeijingPrivate--$458M-
On The Beach GroupUnited KingdomUnited KingdomPublicly listed$163M$48M$330M2.5x
Holiday SwapUnited KingdomLondonPrivate--$400M-
EaseMyTripIndiaIndiaPublicly listed$56M($5M)$241M-
ZKH GroupChinaChinaPublicly listed$1.3B($19M)$445M0.2x
trivagoGermanyGermanyPublicly listed$632M$13M$460M0.5x

Spotnana Public Comps

Spotnana is still privately-owned, but its public comps include Fiverr, On The Beach Group, Lidya Turizm, Theeb, KNT-CT Holdings, Hanatour Service, Addcn Technology, TechTarget, Net Holding and Corporate Travel Management.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Fiverr$431M$13M0.2x0.2x5.2x1.0x
On The Beach Group$163M$48M2.3x2.5x7.7x8.8x
Lidya Turizm$42M($16M)2.3x-(6.1x)-
Theeb$399M$189M2.3x2.1x4.9x4.8x
KNT-CT Holdings$1.9B$47M0.1x0.1x5.5x-
Hanatour Service$427M$50M0.6x0.6x5.3x5.5x
Addcn Technology$73M$34M3.3x3.3x7.0x7.0x
TechTarget$487M($928M)0.7x0.7x(0.4x)3.9x

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Common questions about Spotnana

When was Spotnana founded?Spotnana was founded in 2020.
Where is Spotnana headquartered?Spotnana is headquartered in New York City, NY, United States.
Is Spotnana publicly listed?No, Spotnana is a private, VC-backed company.
What is Spotnana's valuation?Spotnana was last valued at $319M in its Series A in September 2021.
How much funding has Spotnana raised?Spotnana has raised $118M across 4 funding rounds.
What was Spotnana's last funding round?Spotnana's last funding round was a $2M undisclosed-stage round in September 2026.
Who are Spotnana's investors?Spotnana's investors include ICONIQ Capital, Madrona, Mubadala, Vinod Marur, Gokul Rajaram, 8VC, Amex Ventures, Durable Capital Partners, Decibel Partners, Blank Ventures and 5 others.
What is Spotnana's revenue?Spotnana's latest recorded revenue is $24M (September 2021).
What is Spotnana's revenue multiple?Spotnana's latest valuation implies a 13.3x revenue multiple ($319M valuation on $24M of revenue).
Which companies are comparable to Spotnana?Companies comparable to Spotnana include Qyer.com, On The Beach Group, Holiday Swap, EaseMyTrip, ZKH Group and trivago.
How many companies has Spotnana acquired?Spotnana has acquired 1 company, including TROOP.

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