The Orlando-based travel tech startup announces an additional US$6 million in investor funding. Indicating investor optimism for 2021 amidst the market threats of the pandemic. The funds will be used to scale operations, to expand workforce, and to further develop the agility of the team in line with emerging customer patterns in the travel market
Since its inception in early 2017, the Florida based travel tech startup has raised over US$10.5 million. As a one-stop travel booking platform, CuddlyNest offers all accommodation types, including hotels, hostels, vacation homes, penthouses, and even RVs, heralding their slogan “Travel is for Everyone.”
CuddlyNest offers the lowest aggregate commission fee on the global Online Travel Agency (OTA) market, setting out to revolutionize the booking system by cutting unnecessary travel fees using its booking fee-sharing model.
The funding comes at a time when COVID-19 uncertainty had threatened the travel industry.
“Continuous capital injection into the industry — whether to CuddlyNest or other startups in travel tech — is the clearest indication that investors and stakeholders are optimistic in their forecasting of what is to come,” said Ritesh Raj, CuddlyNest’s Co-Partner and COO.
The funding will be partially used to expand its global workforce across 2021 and to further strengthen the agility of its team who will continuously be evaluating scaling priorities based on fast-paced market developments paired with exhaustive market research into shifting traveler patterns.
While the travel industry had suffered extensive furloughs and layoffs, the startup maintained its workforce and continued to expand with new hiring largely thanks to its diversified accommodation network that ensured local bookings, thus maintaining a healthy operating performance due to “lockdown fever”.
Browse. Book. Stay.
After having launched the #PlanNowStayLater campaign in April 2020 in response to the worldwide COVID-19 lockdowns, CuddlyNest witnessed an increase in local travel booking volume affirming a strong interest in the staycation until all national borders are open for global tourism.
With the upcoming launch of their enhanced platform upgrade on Thanksgiving Day 2020, CuddlyNest will be connecting travellers to millions of properties around the globe.
The Orlando-based CuddlyNest is a fourth-year startup offering accommodations at millions of properties all around the world at unbeatable prices. Its innovative booking fee-sharing model has been the key to its success. With the lowest aggregate commission fee in the market, it allows property owners and managers at all types of accommodations to take charge of their earnings while providing guests with the lowest booking price in the market. Whatever the budget and traveller’s appetite, there is an accompanying accommodation to match it. Short Stay. Long Stay. Your Stay.