CuddlyNest Orlando-based online travel agency has raised $ 3.5 million from angel investors. Founded in 2017, the company’s total funding will be $ 14 million, all from individual investors.
CuddlyNest says it currently offers 4 million listing reservations in over 200 countries and territories, from luxury hotels to hostels to a variety of vacation rentals.
The company will use this money to grow the team and add features for new products.
“I’m excited about this milestone. CuddlyNest co-founder and COO Ritesh Raj said investor support is an important sign of our commitment to our vision and makes our business model better. It offers new ways to make things better and bigger.
“As travel habits change, there is a growing need for search options curated for new needs and newly discovered issues. Our main focus is on the ultimate and most intuitive. Design your search results page so that your inventory always matches your search intent.
The company states that it has accounted for the majority of bookings over the last six months and is therefore focused on providing accommodation with flexible cancellation policies. It also adds filters to help users identify properties that implement energy-saving and environmentally friendly strategies.
CuddlyNest claims to offer a “minimum total fee” compared to other global OTAs and uses a rate sharing model that allows property owners to customize CuddlyNest fees and guest payments.
The company will offer the Cuddly Nest Care Program for 18 months starting December, exempting up to two fees for individual real estate owners, not real estate management companies.
Raj states that its purpose is “to empower individual owners and support them for the next 18 months” and “to add inventory at a much faster pace”.
Before this funding round Cuddly Nest Raised $ 6 Million in October 2020 ..
https://www.phocuswire.com/startup-ota-cuddlynest-raises-3-5-million Startup OTACuddlyNest Raises $ 3.5 Million