Demonstrates Union Square Advisors’ value-add in providing comprehensive advisory and financing services to disruptive, high-growth software companies
On February 11, 2020, Mondee Inc. announced the completion of the acquisition of Cosmopolitan Travel Service (CTS), leveraging a significant growth capital investment led by TCW Group and with participation by Morgan Stanley Expansion Capital. Union Square Advisors served as exclusive financial advisor to Mondee in connection with the transactions.
Mondee has built an industry-leading portfolio of brands operated by seasoned travel and technology entrepreneurs – all powered by the next generation TripPro platform of products and services. With over $100 million invested in its core technology, Mondee’s TripPro is a leading software platform with more than 45,000 agents registered globally, processing over 50 million daily searches and multi-billion dollars of annual transactional volume. Mondee will continue to invest and enhance the TripPro transformational technology including NDC, NGS, Branded Fares, advanced conversational commerce and AI/ML platforms to serve a new generation of connected travelers with an unparalleled travel experience, while concurrently providing reliable distribution channel to suppliers.
Prasad Gundumogula, CEO of Mondee stated, “We are proud to acquire a globally recognized travel company led by industry veterans whom I admire and respect. The travel industry is deprived of new technology and innovation, as a result, customers are underserved and suppliers left with inefficient distribution. Our TripPro platform brings transformational technology that delivers new distribution capabilities to our partners and provides travelers with a new world of travel experiences. This acquisition accelerates the delivery of our revolutionary platform to an even larger base. We share this common vision, and each company brings unique strengths and expertise to accomplish our goals.”
Read the full press release at here.
About Mondee Inc.
Mondee, Inc. is a leading travel technology company and the world’s largest airfare wholesaler. Mondee owns globally recognized travel companies including CTS, C&H International, Skylink, Transam, Hariworld, Skylink Canada, and other technology and retail companies. Founded in 2011, Mondee is headquartered in Silicon Valley, California, with 36 offices in USA and Canada, and operations in India, Thailand, Costa Rica, and Greece.
About TCW Group
TCW is a leading global asset management firm with nearly five decades of investment experience and a broad range of products across fixed income, equities, emerging markets, and alternative investments with $217 billion in assets under management as of December 31, 2019. TCW’s clients include many of the world’s largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For further information about TCW Group, please visit www.tcw.com.
About Union Square Advisors
Union Square Advisors is a leading technology-focused investment bank that offers strategic mergers & acquisitions advice and execution, agented private capital financing, and debt capital markets advisory services. Founded in 2007, with offices in San Francisco and New York, Union Square Advisors works with leading public and private technology companies, private equity, venture capital, and family offices across the technology landscape with a primary focus on Software, Software-Enabled Services, IT Infrastructure and Internet/Digital Media/Marketing Technology. Since inception, Union Square Advisors has advised on over 110 transactions, valued in excess of $100 billion. For more information, please visit http://www.usadvisors.com.
