RateGain Travel Technologies Limited, a global provider of SaaS solutions for the hospitality and travel industry, today announced that it has been awarded as the 'SaaS Startup of the Year' at the recently concluded SaaSBOOMi Awards.
SaaSBOOMi is a close-knit community of B2B SaaS founders from India, founded in 2018 by some of the leading SaaS founders from the country. The community helps other founders and their companies build the future of SaaS with a robust support system, including valuable connections, personalized mentorship, and actionable playbooks from peers.
Today, the Indian Software-as-a-Service (SaaS) ecosystem has become a global leader behind only the US in scale and maturity, and boasts of an annual recurring revenue of over 13 billion USD across 1,600+ SaaS companies. It was to acknowledge the importance of the rapidly growing industry and to celebrate the extraordinary aspirations and efforts of Indian SaaS founders that the SaaSBOOMi Awards were launched in 2020.
And in the 3rd edition of the awards, RateGain has been recognized as the SaaS Startup of the Year for its constant focus on leveraging AI to build products that help travel and hospitality companies across the world generate more revenue opportunities.
The jury consisted of stalwarts of the industry: Aneesh Reddy - Co-founder and CEO of Capillary Technologies; Ashwini Asokan - Founder and CEO of Mad Street Den; Girish Mathrubootham - Founder and CEO of Freshworks; Krish Subramanian - Co-founder and CEO of Chargebee; Manav Garg - Founder and CEO of Eka Software; and Suresh Sambandam - CEO of Kissflow.
RateGain, which got listed on the Indian stock market in December 2021, has ever since shown significant all-round growth. In the recently announced Q3FY23 financial results, the company reported a 39.7% YoY growth in the operating revenue. Furthermore, the company recently completed the acquisition of the Adara Inc., headquartered in the Silicon Valley, to form the world's most comprehensive travel-intent and data platform powered by AI.
Speaking on the occasion, Bhanu Chopra - Chairman and Managing Director, RateGain - said, "Over the past few years, SaaSBOOMi has emerged as one of the most revered communities for SaaS in Asia, helping thousands of founders to learn, grow and scale their businesses. This award is a validation of the efforts that our teams at RateGain have put to consistently build our business and take it to new heights. I hope this award inspires all those founders who are trying to make a truly global SaaS business from India."
The recognition adds to a list of other notable accolades including, World Travel Tech Awards, HotelTechReport Awards, Deloitte Fast50, ET Most Innovative Startup of the Year 2020, and HSMAI Gold in Technology Innovation 2021.
Shares of Rategain Travel Technologies Limited was last trading in BSE at Rs. 333.95 as compared to the previous close of Rs. 338.35. The total number of shares traded during the day was 12971 in over 594 trades.
The stock hit an intraday high of Rs. 337.75 and intraday low of 325.00. The net turnover during the day was Rs. 4324268.00.