Indian software-as-a-service company RateGain IT Solutions Pvt. Ltd has appointed a new chief executive officer with a focus on driving growth, including through acquisitions.
Harmeet Singh will take up the role of CEO while Bhanu Chopra, founder and current chief executive officer, is being elevated as the chairman, RateGain said in a statement.
Chopra said Singh’s experience in mergers and acquisitions segment would help RateGain in building a complete suite of digital products focussed on the travel and hospitality sector. “I plan to focus sharply on disruptive product strategy while supporting Singh in identifying new opportunities for growth and scaling our current business,” he said.
Separately, Singh said RateGain has the opportunity to leverage the transformation in the business models being adopted by the travel and hospitality sector. “I look forward to working with Chopra and the RateGain family to rapidly grow our business and expand our leadership position,” he said.
Prior to RateGain, Singh was an executive partner at Madison Dearborn Partners in their telecom, media and technology division. He was also the president of cloud services at technology company J2 Global. An alumnus of California State University-Northridge, Singh is also a board member at the California-based Attune Health.
The announcement of Singh’s appointment comes after RateGain acquired the US-based digital marketing provider BCV to expand its offerings in the hospitality segment in June. At the time, the company said the acquisition would help it increase revenue from hotel chains, airlines, car rental companies and cruise lines, among others.
RateGain, founded in 2004 by Bhanu Chopra, provides SaaS products which help travel and hospitality companies increase revenue. It provides services such as cognitive revenue management, smart e-distribution and brand engagement.
In 2015, the company raised around $50 million (Rs 310 crore) in its first round of funding from private equity firm TA Associates. At the time, the company said the capital would be used for its expansion in North American and Asia-Pacific markets, with some of the funding also being used for launching new products catering to the hospitality industry.