Hospitality startup RedDoorz raised $45 million in a series B round of funding. Qiming Venture Partners and Jungle Ventures co-led the round.
- What they do: The company operates 1,200 budget hotels and properties 80 cities across Singapore, Indonesia, the Philippines, and Vietnam. This translates to 500,000 occupied room nights per month.
- Dig Deeper: The quality of accommodations in Southeast Asia are hit and miss for travelers. By having a collection of rooms at various hotels that all adhere to a brand standard (e.g. clean sheets, towels, reliable internet), RedDoorz solves a real need.