FLYR, a leading technology firm specializing in travel industry innovation, has successfully closed a $295 million Series D funding round. The new capital is set to enhance the development of advanced reservation systems, upgrade digital channels, and implement AI-driven decision automation for major airlines and hospitality brands globally. Additionally, FLYR has secured $70 million in credit from Vista Credit Partners to expand its product offerings worldwide.
The Series D round was spearheaded by WestCap and saw participation from prominent investors including BlackRock, Streamlined Ventures, and a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Avianca, one of South America’s largest airlines and a long-time FLYR client, also contributed to the funding. With this latest raise, FLYR’s total funding exceeds $500 million, cementing its position as one of the most well-funded companies in travel technology.
FLYR leverages artificial intelligence to help travel businesses boost revenue, cut costs, and modernize their reservation systems. Its platform, built on modularity and open standards like IATA New Distribution Capability (NDC) and ONE Order, allows airlines and hotels to move beyond outdated technology, effectively manage large volumes of data, and integrate numerous technology systems.
The influx of funds will accelerate FLYR’s mission to deliver cutting-edge reservation systems, which are foundational for the digital operations of airlines. Notable travel companies such as Avianca, JetBlue, Air New Zealand, Virgin Atlantic, and Best Western Scandinavia are among those utilizing FLYR’s solutions to enhance the traveler experience.
In conjunction with this funding, Laurence A. Tosi will join FLYR’s board of directors. Tosi, Managing Partner and Founder of WestCap, brings extensive experience in scaling industry-leading companies. His past roles include CFO of Airbnb and Blackstone, and COO of Merrill Lynch Investment Banking and Trading. His addition to the board is expected to guide FLYR’s global expansion efforts.
This funding news follows a period of remarkable growth for FLYR, which has seen its annualized recurring revenue increase by 290% over the past year.
Related Topics:
How To Get Around London Without A Car
