InnMall secures million-yuan in A round
FlightManager’s CEO Jiang Wang said that his investment in InnMall has been completed. The round had SIG as lead investor and generated tens of millions of yuan.
FlightManager’s CEO Jiang Wang said on August 4 that his investment in the series A round of InnMall, a hotel technology service platform, has been completed. InnMall’s CEO Rui Li told ChinaTravelNews that the company has dismantled its Variable Interest Entity (VIE) structure. The round generated tens of millions of yuan and SIG was the lead investor. Mr. Li said that the company intends to focus on providing hotel companies with mobile commerce SaaS solutions and big-data-based decision-making systems service.
InnMall app was a brand-new product launched in January 2015 by its parent company HotelManager after the latter’s restructuring. HotelManager later appointed Zheng Dai, former vice president of Qunar, as its board member. Other members include Ctrip’s CEO James Liang, FlightManager’s CEO Jiang Wang and InnMall’s CEO Rui Li.
Ctrip acquired a 33% stake in HotelManager for USD 6 million in the company’s Series A round in 2014. HotelManager was worth USD 20 million at the time. (Translated by Jerry)