Total amount raised
$48.3 Millions
Latest funding date
Location
Atlys has successfully raised $20 million in Series B funding, marking a significant milestone in its financial journey. The platform specializes in streamlining visa application processes and travel services, ensuring a 99.2% success rate in timely visa processing.
Keep reading to delve into the details of Atlys' funding rounds and the prominent investors supporting this innovative platform.
What Is Atlys?
Founded in September 2020, Atlys is based in San Francisco, California. The company was established by Mohak Nahta and has grown to employ between 101 and 250 people.
Atlys specializes in providing streamlined visa application processes and travel services. Their platform ensures a high success rate in timely visa processing, making travel easier for users.
With a focus on efficiency and reliability, Atlys offers services such as real-time visa status updates, express visa options, and e-visa downloads, catering to the needs of modern travelers.
How Much Funding Has Atlys Raised?
- Seed Round
- Amount Raised: $4.3M
- Date: October 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Venture Round
- Amount Raised: $12M
- Date: March 2023
- Lead Investors: Accel, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market presence.
- Series A
- Amount Raised: $12M
- Date: September 2023
- Lead Investors: Elevation Capital, Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's initial growth and development stages.
- Series B
- Amount Raised: $20M
- Date: September 2024
- Lead Investors: Elevation Capital, Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive expansion, enhance product and engineering capabilities, and scale global operations.
Total Amount Raised: $48.3M. Current Valuation: Not publicly disclosed.
Key Investors
- Elevation Capital
- Details: Elevation Capital is a leading venture capital firm in India, previously known as SAIF Partners. They focus on early-stage and growth-stage investments.
- Investment Focus Areas: Technology, Consumer, Financial Services, Healthcare
- Notable Investments: Paytm, Swiggy, Urban Company
- Peak XV Partners (formerly Sequoia Capital India)
- Details: Peak XV Partners is a prominent venture capital firm with a strong presence in India and Southeast Asia. They have a history of investing in high-growth companies.
- Investment Focus Areas: Technology, Consumer, Healthcare
- Notable Investments: BYJU'S, Zomato, OYO, Freshworks
- Andreessen Horowitz (a16z)
- Details: Andreessen Horowitz is a Silicon Valley-based venture capital firm known for its investments in technology companies. They support companies across various stages.
- Investment Focus Areas: Software, Consumer, Enterprise Technology
- Notable Investments: Facebook, Airbnb, GitHub
- DST Global
- Details: DST Global is a global investment firm focusing on late-stage internet companies. They have a track record of backing some of the world's most successful tech companies.
- Investment Focus Areas: Internet, Technology
- Notable Investments: Facebook, Alibaba, Spotify
- Headline
- Details: Headline is a global venture capital firm that invests in early-stage and growth-stage companies. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, Consumer, Enterprise Software, FinTech
- Notable Investments: Bumble, Farfetch, Sonos
What's Next for Atlys?
Atlys is poised to capitalize on the booming international travel market, particularly with its planned expansion into the Middle East. The global outbound tourism market, projected to grow at a 10.5% CAGR over the next decade, offers immense potential. With 30 million travelers from India alone in 2023, the opportunity for Atlys to streamline visa processes and reduce rejection rates is substantial.
Future fundraising seems likely as Atlys continues to scale and enhance its technological capabilities. The company's rapid growth and market expansion plans suggest that additional funding rounds could support further innovation and global reach. However, challenges such as navigating complex immigration regulations and competing with established players like VisaHQ and Akbar Travels remain. Ensuring service quality while scaling operations will be crucial for sustained success.
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