DALLAS--(EON: Enhanced Online News)--Traxo, a leader in traveler data aggregation, announced a $5.2 million Series B financing round today, led by TripAdvisor, the world’s largest travel site. The financing supports Traxo’s ongoing technology initiatives and further extends the company’s sales and marketing efforts.
“Given TripAdvisor’s tremendous global reach, no one better understands the modern traveler’s needs. We’re excited, beyond TripAdvisor’s financial investment, to tap into that expertise and gain from their unique insight as we enhance Traxo’s data aggregation services in 2017 and beyond.”
This investment marks TripAdvisor’s first investment in Traxo, and continues TripAdvisor’s commitment to financing compelling, new technologies that help travelers plan and book the perfect trip. As a part of the investment, TripAdvisor will join Traxo’s board of directors. Existing Traxo investors Thayer Ventures, Advantage Capital Partners, and Silver Creek Ventures are also participating in the round, along with several new investors including Aristos Ventures. Traxo previously raised a $4.2 million Series A financing round in September 2013.
A broad range of leading companies in corporate and leisure travel use Traxo’s data aggregation technologies today. The company’s client roster includes Chrome River, Lufthansa, Travel and Transport, Cornerstone Information Systems, iJet, InsideFlyer, and more.
“We are thrilled that TripAdvisor is leading our Series B round of funding, and see their participation as further validation of our leading technology platform,” said Andres Fabris, Traxo founder and CEO. “Given TripAdvisor’s tremendous global reach, no one better understands the modern traveler’s needs. We’re excited, beyond TripAdvisor’s financial investment, to tap into that expertise and gain from their unique insight as we enhance Traxo’s data aggregation services in 2017 and beyond.”
“Traxo’s foundational mission – to make traveling easier by facilitating the seamless flow of critical travel data – aligns with TripAdvisor’s overall focus on helping travelers experience a better start-to-finish trip,” said Adam Medros, senior vice president of global products for TripAdvisor. “As a part of this investment, TripAdvisor believes our resources and knowledge can further scale Traxo’s ability to help more travelers have a seamless journey.”
Traxo provides itinerary data aggregation solutions for travel agencies and content providers, corporations, TMCs, online booking tools, and other service providers to capture off-platform bookings, enhance policy compliance, and comprehensively track travel spend regardless of channel. With API-based and hosted white label solutions, along with private branded email parsing and data normalization solutions, Traxo provides its clients with the most robust suite of data aggregation services on the market. For more information, visit http://www.traxo.com.
TripAdvisor® is the world's largest travel site**, enabling travelers to unleash the full potential of every trip. TripAdvisor offers advice from millions of travelers and a wide variety of travel choices and planning features with seamless links to booking tools that check hundreds of websites to find the best hotel prices. TripAdvisor branded sites make up the largest travel community in the world, reaching 390 million average monthly unique visitors*, and reached 435 million reviews and opinions covering 6.8 million accommodations, restaurants and attractions. The sites operate in 49 markets worldwide. TripAdvisor: Know better. Book better. Go better.
TripAdvisor, Inc. (NASDAQ:TRIP), through its subsidiaries, manages and operates websites under 24 other travel media brands: www.airfarewatchdog.com, www.bookingbuddy.com, www.citymaps.com, www.cruisecritic.com, www.familyvacationcritic.com, www.flipkey.com, www.thefork.com (including www.lafourchette.com, www.eltenedor.com, www.iens.nl, www.besttables.com and www.dimmi.com.au), www.gateguru.com, www.holidaylettings.co.uk, www.holidaywatchdog.com, www.housetrip.com, www.independenttraveler.com, www.jetsetter.com, www.niumba.com, www.onetime.com, www.oyster.com, www.seatguru.com, www.smartertravel.com, www.tingo.com, www.travelpod.com, www.tripbod.com, www.vacationhomerentals.com, www.viator.com, and www.virtualtourist.com.
*Source: TripAdvisor log files, average monthly unique visitors, Q3 2016
**Source: comScore Media Metrix for TripAdvisor Sites, worldwide, July 2016