Another Treebo cofounder Kadam Jeet Jain exits, will take up advisory role

Hospitality startup Treebo’s cofounder Kadam Jeet Jain is leaving the company and will take up an advisory role in the firm. He will continue to be a board member at Treebo. Jain made the announcement in a series of tweets on Wednesday, adding that he would like to take a short break and then get ready “for the next adventure.”

“It’s the end of an era as I exit my operator role at @Treebohotels. An exit to me is a cognitive shift rather than a physical one. I now look forward to playing a new role, that of an advisor, board member, and a cheerleader from the sides,” he tweeted.

The last eight years have been a phenomenal journey. From engineer to entrepreneur, from coder to leader – starting Treebo put up challenges that, in turn, strengthened me to learn and grow in ways I could never have imagined, Jain added.

In February this year, another Treebo founder Rahul Chaudhary who had left the firm in 2021, said he had joined venture capital fund Matrix Partners India. He continues to be a board member at Treebo.

Jain thanked cofounders Sidharth Gupta and Chaudhary, saying, “my regard for your fierce and intelligently-applied work ethic, humility in success, grace in failure, and passion for customer centricity has only grown over the years.”

“To the amazing Treebo team. The strength of the pack is the wolf, and the strength of the wolf is the pack. This is what you, my fellow Treebs, have been to me,” he added.

Besides, Jain also mentioned investors including Matrix Partners, Elevation Capital, Bertelsmann India, Ward Ferry Management, and Karst Peak Capital for their “support and guidance over the years.”

Treebo was founded in 2015 by Gupta, Jain and Chaudhary.

In June 2021, Treebo had raised $16 million led by French hospitality major Accor. The investment by Accor was part of a broader partnership under which Treebo would deploy its hotel management software at various Accor hotels worldwide.

Treebo in January this year said that it achieved EBITDA break-even in December last year. The company said it reported an adjusted EBITDA (adjusted for ESOP expenses) of Rs 1.65 crore in the month.

The company also announced that it achieved an annualised revenue runrate (ARR) of $82 million in the same month.

Gupta said this EBITDA breakeven is a ‘defining moment’ in the company’s journey.

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