The funding round, which 360 ONE Asset expects to lead, reflects the growing investor confidence in AI-powered software development platforms. Previously known as DhiWise, Rocket enables users to create applications using plain-language prompts, making app development significantly faster and more accessible. As a result, the company has emerged as one of the prominent AI coding and app-building startups attracting global investor attention.

According to the people cited above, 360 ONE Asset is expected to invest between $20 million and $25 million, while other investors are likely to join the funding round.

If the transaction closes on the current terms, Rocket will achieve a remarkable valuation jump in less than a year. Notably, the company secured $15 million in funding from Salesforce Ventures, Accel, and Together Fund at a valuation of nearly $60 million during its previous fundraising round.

Moreover, the company plans to deploy the fresh capital to strengthen its artificial intelligence capabilities, accelerate product innovation, enhance platform development, and expand its global go-to-market strategy.

“The key test will be whether it (Rocket) can convert early adoption into durable revenue,” said one person.

“The AI app-building market is growing rapidly, but it is also crowded and fast-moving, with competition from specialist startups as well as large model companies,” the person said. “Investors are betting that Rocket’s India-built engineering base and global user traction can help it carve out a position in the production-grade app-building segment.”

Rocket did not respond to an email seeking comments, while 360 ONE declined to comment on the matter.

Founded in 2021 by Vishal Virani, Deepak Dhanak, and Rahul Shingala, the startup initially operated as DhiWise, a developer workflow automation platform that enabled engineers to transform software designs into production-ready code. However, the founders later repositioned the business as Rocket, an AI-native platform that allows startups, product managers, agencies, and enterprise teams to build applications directly through text prompts.

Meanwhile, the proposed fundraising arrives at a time when venture capital firms continue to back AI startups that demonstrate strong early-stage global traction, despite maintaining a selective investment approach across the broader startup ecosystem.

Last week, it was reported that investors have started writing larger early-stage cheques while becoming increasingly selective about companies that show faster business momentum. Indian startups raised $3.34 billion across 608 early-stage and seed funding rounds during the first half of 2026. In comparison, startups in the country raised approximately $2.96 billion across 1,055 early-stage and seed rounds during the first half of 2025.

Furthermore, AI coding assistants and AI-powered application development platforms have become one of the fastest-growing segments within enterprise software. Global companies such as Cursor, Lovable, Bolt, and Replit have also attracted significant investments while securing premium valuations.

Rocket’s growth journey has remained closely linked to its strategic transition from DhiWise. During last year’s $15 million funding announcement, the company revealed that its platform had surpassed 400,000 users, including more than 10,000 paid subscribers spread across 180 countries. Additionally, the startup reported that it had achieved $4.5 million in annual recurring revenue within just a few months of launching its AI-native platform.

For 360 ONE, the proposed investment would further strengthen its expanding portfolio of next-generation technology companies. The investment firm has actively increased its exposure to venture capital and private equity opportunities while focusing on sectors such as generative AI, frontier technology, fintech infrastructure, and consumer technology.

Recently, Sarvam AI also entered the unicorn club after securing a $234 million funding round led by HCLTech, which participated as a strategic investor.

As investor enthusiasm for artificial intelligence continues to accelerate, Rocket’s latest fundraising discussions highlight the increasing global demand for AI-powered app-building platforms developed in India. If the funding round concludes successfully, the company will significantly strengthen its competitive position, accelerate product innovation, and expand its international footprint while reinforcing India’s growing influence in the global AI startup ecosystem.

“Freshworks began Q1 with strong momentum, building on our 2025 successes and achieving our sixth straight quarter of exceeding expectations,” said Dennis Woodside, CEO and President of Freshworks adding that demand for its EX platform and AI Copilot offerings continued to drive expansion. This reflects the increasing adoption of AI-powered customer and employee experience solutions across enterprises.

However, the company reported a GAAP operating loss of $8.1 million in Q1 2026, although it narrowed from a loss of $10.4 million a year earlier. At the same time, the company reversed its position from Q4 2025, when it had recorded a GAAP operating profit of $39.7 million, highlighting ongoing margin pressures in the cloud software market.

Meanwhile, Freshworks announced plans to reduce its global workforce by approximately 11%, impacting around 500 employees, as part of a broader restructuring strategy. This move comes as global SaaS companies face increasing pressure on growth efficiency and profitability. The layoffs will affect operations across India and the United States, signaling a shift toward leaner operational models.

The company expects to incur one-time restructuring charges of about $8 million, with most of these costs likely to be recognised in the second quarter of 2026, said Tyler Sloat during the company’s Q1 earnings call on May 6. This restructuring aligns with broader tech industry cost optimisation trends.

In terms of adjusted performance, non-GAAP operating income stood at $41 million, down from $46.4 million in the previous year, while margins contracted to 17.9% from 23.6%. Sequentially, the figure remained largely flat compared with $41.6 million in Q4, although margins declined, indicating cautious profitability trends despite steady revenues.

Additionally, GAAP net loss per share came in at $0.02, compared with breakeven ($0.00) a year ago. In contrast, the company had reported a profit of $0.67 per share in Q4 2025, reflecting a sharp sequential drop. On a non-GAAP basis, earnings per share declined to $0.11 from $0.18 a year earlier and also fell from $0.14 in the previous quarter. Despite this, the company maintained profitability on an adjusted basis, even as per-share earnings softened.

Furthermore, GAAP refers to standardised accounting principles that companies must follow, whereas non-GAAP metrics exclude items such as stock-based compensation or one-time expenses to provide a clearer view of underlying operating performance—an important distinction for investors tracking earnings analysis and financial performance metrics.

On the cash flow front, Freshworks maintained steady performance, with operating cash flow rising to $62.4 million from $58 million a year ago. Adjusted free cash flow stood at $55.8 million, while the company ended the quarter with a strong cash position of $780.4 million in cash and equivalents. This reinforces its financial stability amid evolving market conditions.

Following the earnings announcement, Freshworks’ shares rose about 2% to trade at around $0.19 apiece. However, the stock remains down roughly 26% year-to-date, reflecting broader volatility in technology stocks and investor sentiment around growth-oriented companies.

Importantly, the company secured two of the largest deals in its history during the quarter, including its first contract exceeding $1 million in annual recurring revenue (ARR). This milestone highlights increasing traction in the enterprise segment and strengthens its position in the enterprise SaaS market.

Among key operating metrics, the number of customers contributing over $100,000 in ARR increased 29% year-on-year. Meanwhile, net dollar retention stood at 106%, slightly lower than 108% in Q4 2025, indicating stable but moderating customer expansion trends.

Looking ahead, Freshworks expects Q2 2026 revenue to range between $232 million and $235 million. Additionally, the company raised its full-year revenue guidance to between $958 million and $964 million, signaling continued confidence in achieving double-digit growth in the global SaaS landscape.

“As we grow Freshworks to a $1 billion ARR company and beyond, our EX business represents the primary and largest growth opportunity,” Woodside said during the company’s earnings call. This outlook underscores the company’s strategic focus on scaling its EX platform and expanding its enterprise footprint.

The company also highlighted strong adoption of its AI offerings. “In Q1, Freddy AI Copilot customer growth exceeded 80% year-on-year, while the attach rate in new deals above $30,000 ARR was over 65%. Within its EX business, customer penetration for AI crossed 20%, nearly doubling from a year ago, and about one-third of all new EX customers adopted Copilot,” Woodside said.

Freshworks’ Q1 2026 results reflect a balanced narrative of steady revenue growth, rising enterprise adoption, and expanding AI capabilities, alongside profitability pressures and workforce restructuring. As the company continues to invest in AI innovation, employee experience platforms, and enterprise software solutions, it remains well-positioned to capitalise on long-term growth opportunities while navigating near-term market challenges.

The announcement comes as M&A teams face increasing pressure to do more with less. For most companies, inorganic growth depends on timing, context, and access. Yet M&A deal origination from mid-market and early-stage companies has changed little in decades, still driven by banker networks, static databases, and fragmented research workflows. Buyers often see only what is already on the market, while high-quality, off-market opportunities remain hidden.

Corporate development teams are leaner, timelines are compressed, and competition for quality assets is intensifying. While platforms like PitchBook, D&B, Datasite, and Tracxn have made company data more accessible, they largely stop at aggregation. GrowthPal addresses a different need by applying AI-driven reasoning to help teams identify which companies actually matter, based on strategic intent, sector context, and readiness to transact.

“M&A sourcing is where most time and effort is wasted, especially for smaller and mid-market deals,” said Maneesh Bhandari, co-founder and CEO of GrowthPal. “Teams spend weeks researching, filtering, and chasing opportunities that never go anywhere. We built GrowthPal to help buyers focus only on high-intent, high-fit targets and move from mandate to meaningful conversations far faster.”

GrowthPal’s platform acts as an intelligent M&A copilot. When a buyer defines a growth objective—like acquiring a specific capability or entering a new geography—the system translates that goal into a structured acquisition thesis. Its AI agents then scan an enriched database of more than four million technology companies using signals from public filings, web activity, hiring trends, funding history, and other indicators. The result is a short list of precision-fit, often off-market targets that align closely with the buyer’s mandate, rather than broad lists of loosely relevant companies.

The company was founded to address a structural gap in the market. While more than a million meaningful startups exist globally, fewer than one percent scale successfully, often due to lack of timely exits or strategic partnerships. At the same time, many acquirers struggle to find the right targets efficiently, particularly for transactions under $70 million that fall below the focus of traditional investment banks. GrowthPal was created to connect these two sides by making deal sourcing proactive, discreet, and data-driven.

GrowthPal has already supported more than 42 completed M&A transactions and facilitated over 210 LOI-stage conversations across North America, Europe, Asia, and Latin America. Clients include large and mid-market enterprises, fast-growing startups, private equity-backed firms, and corporate development teams across sectors such as IT services, SaaS, fintech, and vertical software. In one case, a single client closed seven acquisitions within 18 months using the platform.

The broader M&A landscape is increasingly shaped by data abundance and decision scarcity. Teams have more information than ever, yet struggle to turn it into conviction. As acquisitions become a core growth lever for companies of all sizes, the ability to reason across signals, context, and intent is becoming a competitive advantage.

“GrowthPal is solving one of the most under-optimised parts of the M&A lifecycle,” said Naganand Doraswamy, Managing Partner at Ideaspring Capital. “By focusing on qualified deal discovery and using AI to compress timelines, the team is enabling a more systematic approach to inorganic growth that traditional tools cannot offer.”

Looking ahead, GrowthPal plans to extend its intelligence deeper into the transaction lifecycle, supporting valuation reasoning, deal structuring, and preparation for negotiations. The company’s long-term vision is to become the system of intelligence that helps teams make better M&A decisions earlier, with greater confidence and clarity, starting from discovery and extending through execution.

About GrowthPal

GrowthPal’s AI-powered M&A copilot helps users identify off-market targets, validate fit, and accelerate deal execution, turning strategy into action within days, not weeks.

Its data- and intelligence-driven digital investment banking platform helps corporates acquire small- to mid-sized targets globally to add to their revenues, markets, geographies, customers, products, and teams. We specialize in add-ons, tuck-ins, and bolt-ons and cover global markets, including the US, LATAM, the UK, Europe, and Asia, and specialize in business services and software. The experienced team has helped 100+ clients and closed 40+ deals.

The platform combines data, machine learning algorithms, and human expertise to deliver the most relevant opportunities for any given mandate. The team uses sophisticated matching and scoring algorithms, then our in-house banking team reaches out, gauges interest, and facilitates introductions. For more information, please visit https://www.growthpal.com/

The company will deploy the fresh capital to accelerate innovation within its Merlin AI suite, expand go-to-market teams across North America and EMEA, and evaluate strategic acquisitions that enhance the platform’s capabilities. At the same time, the startup continues to strengthen its footprint in Australia, New Zealand, and Southeast Asia, where enterprise brands are upgrading customer engagement stacks and integrating marketing and product workflows.

Alongside these growth initiatives, MoEngage has completed its second employee tender offer worth approximately $15 million. Through this initiative, the company enabled liquidity for 259 current and former employees, supporting long-term wealth creation. Additionally, the round included select secondary transactions for early investors, including Eight Roads, Helion Venture Partners, Matrix Partners, and Ventureast.

“At MoEngage, we believe our success is a collective effort, built on a culture of ownership and innovation. It is vital that we recognize the people who brought us to this stage,” said Raviteja Dodda, CEO & co-founder of MoEngage. “This liquidity program reflects that commitment by ensuring that the builders of MoEngage, our employees, and early investors have the opportunity to directly share in the milestones we achieve together. We are grateful for the partnership of ChrysCapital, Dragon Funds, Schroders Capital, TR Capital, and B Capital as we continue to scale globally.”

Meanwhile, Southeast Asia and ANZ remain core growth markets for MoEngage, as enterprises across Singapore, Indonesia, the Philippines, Australia, and New Zealand rapidly adopt AI-powered, insights-driven engagement platforms. In response, MoEngage continues to invest in regional expansion to meet rising enterprise demand.

The company works closely with leading regional brands such as Kredivo, Alfamart, Blibli, XL Axiata, Trust Bank, Stan Entertainment, 13Cabs, Canstar, and TFE Hotels. In addition, it partners with global enterprises including 7-Eleven, Coca-Cola, Starbucks, Samsung, Domino’s, KFC, and Nestlé to unify customer data and deliver personalized, omnichannel experiences.

Furthermore, the startup is expanding beyond marketing teams by strengthening its offerings for product teams through MoEngage Analytics and MoEngage Inform. As customer engagement increasingly requires cross-functional alignment, the platform enables marketing and product teams to operate on shared data and deliver cohesive customer experiences.

MoEngage Inform centralizes critical transactional messaging, including OTPs, account notifications, and service updates, through a single API across multiple channels and providers, ensuring reliability separate from marketing campaigns. At the same time, enhanced product analytics capabilities within MoEngage Analytics connect behavioral insights directly to action. By unifying user data with real-time engagement, the platform allows product managers to understand user behavior and immediately trigger experiences that improve retention and lifetime value.

“Customer engagement has never belonged to just one team. Customers move through many moments, and those moments should feel connected and supportive,” added Dodda. “When product, engineering, and marketing work from the same data and tools, they can show up more naturally for their audiences. That’s the experience we want to help companies deliver so they can grow their brands.”

Rishabh Iyer, Vice President at ChrysCapital, said, “ChrysCapital is excited to partner with MoEngage for its next phase of AI-led growth. This investment aligns with our strategy to back technology platforms built in India for global enterprises, leveraging deep talent, capital efficiency, and a sophisticated understanding of enterprise needs. We are impressed by MoEngage’s disciplined operating model, sustained US execution, and broad product capabilities. We look forward to helping the team become the world’s leading marketing technology platform.”

Ridhi Chaudhary, CIO of Dragon Funds, stated, “We are pleased to partner with MoEngage, impressed by its strong management, continuous product innovation, and durable growth. We believe MoEngage’s best-in-class product and AI capabilities position it well to lead the martech category.” Aakash Tulsani, Managing Director at Dragon Funds, added, “MoEngage sets the bar for innovation by leveraging AI on first-party data, making it essential for marketers. It is a privilege to partner with MoEngage again, having invested previously.”

“At Zeta, we are building the modern banking stack for the world’s leading financial institutions. As a data-driven company, we rely on deep customer insights to drive our product strategy,” said Bhavin Turakhia, co-founder & CEO, Zeta. “MoEngage Analytics has helped us optimize critical journeys like onboarding, activation, and cross-sell, while their messaging capabilities allow us to instantly nudge customers. Effectively bridging the gap between insight and action. As a user of the product, I am impressed by the constant innovation. Additionally, MoEngage Inform has become essential for powering our mission-critical communications, delivering account and transaction updates with high reliability and speed.”

“MoEngage Inform has become a core part of how we run our e-commerce experience at Loblaw across our lines of business,” said Charu Pujari, SVP, AI and Engineering at Loblaw Digital. “It keeps customers updated on their delivery and pickup orders with the speed and reliability they expect, which has made a meaningful difference in how engaged and confident they feel throughout the process.”

Its GAAP loss narrowed sharply to $7.5 million, compared to $38.9 million in the same quarter last year. GAAP (Generally Accepted Accounting Principles) are standardized accounting guidelines used by companies to prepare financial statements.

For fiscal year 2025, It now expects revenue in the range of $833.1 million to $836.1 million, reflecting 16% growth. In July, the company had projected a 14–15% revenue rise.

“Freshworks once again exceeded our previously issued estimates across growth and profitability metrics,” said Dennis Woodside, CEO & President of the San Mateo, California-based firm. “Business leaders are realizing that AI belongs in the software their teams use every day. They choose Freshworks because our unified platform delivers real productivity gains, not more complexity strains. From intelligent automation across IT and HR to proactive AI-assisted customer support, Freshworks is helping businesses turn intelligence into impact, creating meaningful value for customers, employees, and shareholders.”

In an exchange filing, the company stated that it will issue 10.58 lakh warrants at INR 567 each to promoter group entity RAN Ventures Pvt Ltd and non-promoter company Bennett Coleman and Company Ltd (Times Group).

Zaggle has not disclosed the specific use of the newly raised funds, but the company has been actively pursuing acquisitions. Most recently, it announced plans to acquire golf-centric rewards platform Greenedge for INR 25 crore.

In a separate move, Zaggle revealed that it has agreed to extend a loan of INR 15 crore to Dice Enterprises for working capital needs. The loan will be provided over a 12-month period at an interest rate of 12% per annum, in one or more tranches, and is repayable on demand.

Earlier in June, Zaggle acquired enterprise spend management startup Dice Enterprises for INR 123 crore, stating that the deal will strengthen its product portfolio, provide access to Dice’s customer base, and help scale operations in India and globally.

Additionally, the company has entered agreements to acquire UPI payments startup Rio.Money and increase stakes in Effiasoft and Mobileware Technologies this year.

Zaggle’s acquisition momentum was fueled by its maiden QIP completed in December, which supported its growth targets. The company aims to achieve a gross revenue of INR 2,000 crore in FY26, along with a net profit of INR 200 crore through these acquisitions.

For the first quarter of FY26, Zaggle’s consolidated net profit jumped 56% to INR 26.1 crore from INR 16.7 crore in the same period last year, while its revenue grew 32% YoY to INR 252.2 crore.

This fresh infusion of capital comes four years after the company’s previous funding round and is set to accelerate Petpooja’s growth plans. The company intends to use the proceeds to expand its product portfolio, enhance AI-driven automation, and strengthen customer support, according to a press release. According to regulatory filings, Dharana Capital invested Rs 82 crore and Ashish Gupta put in Rs 1 crore, while the company has yet to complete the remaining allotments.

The funding round, consequently, values Petpooja at approximately Rs 910 crore ($103 million), representing a 3.5X increase from its previous valuation. As a result of this round, Dharana Capital will hold an 18.62% stake on a fully diluted basis.

Founded in 2011 as a B2B food delivery startup, Petpooja later pivoted to a SaaS model, offering cloud-based billing and management software for SMB food service businesses. Today, the platform serves over 1,00,000 clients across India, the UAE, and South Africa, handling approximately 25% of online order volumes on Zomato and Swiggy.

Commenting on the round, Vamsi Duvvuri, Founder and Managing Partner, Dharana Capital, said, “As India’s food service ecosystem undergoes rapid digitization, Petpooja has emerged as the core technology backbone for restaurants. Their resilience and customer-first approach has set them apart, and we look forward to supporting them in this next chapter of growth.”

Parthiv Patel, Co-Founder and CEO of Petpooja, said, “Our partnership with Dharana marks an exciting new chapter for us. This round will help us accelerate product innovation and continue building solutions that help restaurants simplify their operations.”

Petpooja has raised roughly Rs 185 crore to date, including a $4.5 million Series B round led by Aroa Ventures in 2021. Although Petpooja has yet to file its FY25 financials, it reported a 43% revenue increase to Rs 76 crore in FY24 and reduced its losses significantly to Rs 13.4 crore.

This latest funding underscores Petpooja’s evolution from a food delivery startup to a leading SaaS platform, helping restaurants streamline operations and leverage technology to scale efficiently.

The funding round was led by Aditya Vuchi (VCMint) and Raj Narayanam (RAN Ventures, Founder & Executive Chairman of Zaggle). Their backing highlights strong investor confidence in Vaave’s vision.

Until now, the startup had relied on bootstrap funds, along with support from friends and angel investors. However, with this fresh capital, the company plans to enter new markets, accelerate product innovation, and strengthen its leadership in alumni engagement.

Founded by Paresh Masade, Yasaswy Peesapati, and Jaipal Reddy, Vaave delivers subscription-based SaaS solutions. These solutions help educational institutions and corporates build and manage thriving alumni communities.

Today, the platform supports 1,200+ institutions across 28 countries, including top institutes like IISc, IITs, IIMs, NITs, and IIITs. Moreover, it manages alumni networks for leading corporates such as Tata Steel, Deloitte, Virtusa, and Bosch.

With its advanced networking and engagement tools, Vaave competes directly with international players like Almabase, Graduway, and Hivebrite. Yet, it positions itself as a strong homegrown alternative in the global alumni management space.

Therefore, this funding serves as a pivotal milestone in Vaave’s mission to empower institutions and enterprises. Ultimately, it aims to drive lifelong alumni engagement and sustainable community growth.

Headquartered in San Mateo and Chennai, the software firm now projects full-year revenue between $822.9 million and $828.9 million, reflecting a 14–15% increase—up from its previous forecast of $815.3 million to $824.3 million.

Freshworks also revised its non-GAAP operating income guidance for the year to $153–157 million, compared to its earlier estimate of $139.5–147.5 million shared after Q1.

“Freshworks delivered another strong quarter, exceeding our previously provided financial estimates,” said CEO Dennis Woodside in a statement on July 30. He added that more businesses are choosing Freshworks to simplify operations and adopt AI-enabled employee and customer service solutions.

In Q2 FY25, non-GAAP operating income surged to $44.8 million, up from $13.1 million a year earlier, while GAAP operating loss narrowed significantly to $8.7 million from $43.8 million. The company’s GAAP net loss also reduced sharply to $2.94 million, down from $20.99 million in the same period last year—highlighting better operational efficiency and cost management.

Operating cash flow grew by 61% year-over-year to $58.6 million, with a 29% margin. Adjusted free cash flow climbed to $54.3 million, up from $32.8 million in Q2 2024.

Freshworks closed the quarter with $926.2 million in cash, cash equivalents, and marketable securities, slightly down from $1 billion in the previous quarter.

Freshworks reported that the number of customers generating over $5,000 in annual recurring revenue (ARR) grew 10% year-over-year, reaching 23,975. Meanwhile, net dollar retention held steady at 106%, indicating strong customer retention and expansion.

Notably, the company shared that its Freddy AI Copilot and Freddy AI Agent products have together surpassed $20 million in combined ARR. This milestone highlights the growing adoption of Freshworks’ AI-driven offerings, which are playing a key role in its revenue growth.

ARR is a critical performance indicator for SaaS businesses, as it reflects predictable, recurring revenue from ongoing customer subscriptions.

“On AI adoption. Customers have moved from AI experimentation to realizing tangible business value and returns on their investments. Freddy Copilot was included in three of the top 10 new deals in Q1. Nearly half of all new large deals over $30,000 ARR had Copilot attached in Q1,” Woodside said during the company’s earnings call.

Originally founded in 2018 by Harman Singh Narula and his childhood friend SJ Sawhney, the company aims to help hotels streamline and automate guest interactions. Since then, Canary has raised nearly $180 million in total funding, reflecting strong investor confidence in its long-term vision.

“Running a hotel is increasingly complex,” Singh Narula said. “Guest expectations are constantly evolving, and staffing shortages continue to strain operations. We felt the hotel market was underserved by technology and that modern solutions could help hoteliers elevate the guest experience, improve profitability, and operate more efficiently.” 

Singh Narula explained that Canary provides a comprehensive suite of products covering the entire guest journey—from booking to checkout. For example, the platform allows guests to check in via their mobile devices or contact the front desk through text messages. Moreover, he noted that the company is increasingly integrating AI into its services by leveraging a large language model (LLM) to deliver instant responses across voice, web, and text channels.

“The guest’s user experience is completely customized and branded for each hotel,” he continued. “So, as a guest, you may not know that Canary helped enable your travel experience. With that said, if you’ve stayed in hotels recently, odds are you’ve utilized Canary, as we now work with 20,000 hotels across 100-plus countries.” Companies that use Canary include the Rosewood Hotels, Marriott, Best Western, and Wyndham. 

However, Canary isn’t without competitors—according to PitchBook, other guest management software providers in the space include Cloudbeds and Revinate.

Furthermore, Singh Narula characterized the company’s fundraising approach as opportunistic.

“While we weren’t actively fundraising, the opportunity emerged to bring in the right partners with strong alignment on vision, values, and where we’re headed,” he said.

Other investors, including Y Combinator, Insight Partners, and Fidelity, participated in the round. 

Singh Narula said the company will use the capital to expand operations and hire additional employees.

“We see travel as one of the most powerful ways people connect with the world,” he said. “We believe Canary has an important role to play in making those experiences more personal, more memorable, and more meaningful.”

With this latest funding round, Canary plans to further enhance its AI-driven guest management solutions and expand its presence in the hospitality tech space. Despite facing competition from players like Cloudbeds and Revinate, the company’s comprehensive product suite and strategic fundraising efforts position it well for continued growth.