SaaS firm RateGain buys US-based BCV; Qatar sovereign fund may invest in Byju’s: Reports
Noida-based RateGain IT Solutions Pvt. Ltd, which runs a SaaS-based software solutions deck for travel and hospitality industries, has acquired Chicago-based, hospitality sector-focused digital marketing services provider BCV, a media report said.
According to The Economic Times, the deal is valued around Rs 175-200 crore.
RateGain and BCV will replace the traditional waterfall methodology of data collection, analysis and action with a more agile model that would bring revenue management, sales and marketing together, breaking down the traditional silos to generate greater visibility and control, RateGain chief executive Bhanu Chopra told ET.
Founded in 2004 by Chopra, RateGain provides revenue management and distribution channel management software, and real-time pricing data and analytics, to help businesses streamline operations and sales. Chopra holds a Bachelor of Science degree from Indiana University in the US.
RateGain has offices in Spain, the UAE, the UK and the US. It helps travel and hospitality companies manage their revenue better, besides brand engagement. It also helps clients streamline their operations and sales.
The company raised around $50 million (Rs 310 crore) in a funding round from private equity firm TA Associates in 2015.
Ed-tech unicorn Byju’s, owned by Think & Learn Pvt. Ltd, is likely to raise up to $250 million from Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar, a media report said.
According to Business Standard, the term sheet has been signed between the two parties and the deal will see QIA acquiring a less than 5% stake in the Bengaluru-based startup.
Founded in 2011, the venture runs learning apps for school students and produces all its content in-house. Byju's originally started off as a coaching platform for entrance exams and for students studying in classes 6-12. Last year, it launched content for students from classes four to five and then targeted an app for students from classes one to three.
The company is the best-funded and most-valued Indian startup in the ed-tech segment.
In March, it had raised $31.3 million (Rs 215 crore) in a fresh round of funding from existing investors General Atlantic and Tencent Holdings Ltd.
Its other investors include The Chan Zuckerberg Initiative, which is the philanthropic foundation of Facebook founder Mark Zuckerberg and wife Priscilla Chan; Belgian family office Verlinvest; Canada Pension Plan Investment Board; and the World Bank’s private-sector investment arm International Finance Corporation.