RezNext Global Solutions raises $5 million from New Enterprise Associates

BENGALURU: RezNext Global Solutions, real-time distribution technology company, today announced raising USD 5 million of funding from New Enterprise Associates Inc.(NEA), a leading venture capital firm.

The funding would be used to further accelerate the company's "impressive" growth and customer success, RezNext said.

RezNext offers distribution technology for hotels in a real-time environment, helping them automate the current complex hotel distribution landscape, the company said.

The technology also levels the play field for lower and mid-scale hotels, allowing them to quickly get online and leverage the opportunity the internet presents today, it said.

RezNext has already onboarded 1200 plus customers to its distribution platform and is in expansion mode, targeting other important markets in Asia, Africa, and the Middle East, it said in a statement.

Mike Kistner, Chief Executive Officer, RezNext Global Solutions, said the funding would help the company substantially increase its market penetration and deliver full product portfolio, besides fuelling its expansion plans in the domestic and international markets.

NEA with more than USD 13 billion in committed capital invests in information technology and healthcare companies at all stages in a company's life-cycle, from seed stage through IPO, the statement said.