Monday, April 18, 2011

Concur Invests $40M In Indian Travel Site

Redmond-based Concur said this morning that it has invested $40M in an Indian travel site, ClearTrip, as part of a strategic alliance. Concur said the deal both includes the investment plus a marketing partnership with the firm, allowing it to expand its customer base and expand into new operations in India. Concur said the the companies will work together to provide ClearTrip-generated travel itineraries for Concur clients, including adding specific Indian domestic travel content, including air, hotels and rail, from Cleartrip. ClearTrip is venture backed by DAG Ventures, Draper Fisher Jurvetson, Kleiner Perkins Caufield and Byers, Sherpalo Ventures, and The Mahindra Group. More information »