Demonstrates Union Square Advisors’ Value-Add in Providing Comprehensive Advisory and Financing Services to Disruptive, High-Growth Software Companies
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.
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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.
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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.”
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