Itilite, a startup that provides solutions to automate business travel and expense processes and reduce costs, has raised $29 million in Series C funding.

The investment was led by Tiger Global and existing investor Dharana Capital with Matrix Partners and Tenacity Ventures participating.

Itilite says its business has grown 500% since its $13 million Series B round in 2020, and it now works with more than 300 companies globally.

Founded in 2017, Itilite’s solutions include an artificial intelligence-powered virtual travel and expense consultant dubbed “Mastermind” that provides recommendations on how to optimize spending as users are in the booking flow.

“People are back to offices and business travel is back in the conversation. Business travel bookings are surging and we are witnessing thousands of trips happening on our platform; this is just a new beginning,” says Mayank Kukreja, Itilite founder and CEO.

“This round is a reaffirmation of the impact we create for our customers. We are excited to have Tiger Global on our side and will aggressively double down on our momentum in the U.S. market.”

The company will use the funding for “product innovations, brand building and scaling up its go-to-market teams.”