Traxo, a Dallas, TX-based advanced personal travel organizer, raised $4.2m in Series A funding.
The round was led by Advantage Capital Partners, with participation from Silver Creek Ventures, and Thayer Ventures. In conjunction with the funding, Damon Rawie, Managing Director of Advantage Capital Partners, Michael Segrest, General Partner of Silver Creek Ventures, and Jeffery Jackson, Managing Director of Thayer Ventures, joined Traxo’s Board of Directors.
The company intends to use the funds for product development and international expansion.
Launched in 2009 by travel industry veterans Andres Fabris and Andy Chen, Traxo allows travelers, travel management companies and corporations to streamline the processes around hotel, air, car, activities, reservations and itineraries. It keeps track of travel reservations booked on the web, and provides frequent flyer mileage and travel management tools, social travel capabilities, and a new mobile app designed for iOS devices.
The company recently signed a travel expense management partnership with SAP’s Cloud for Travel, and integrated KnowDelay, a weather prediction service that, combined with its extensive travel organization and detection services, informs travelers of predicted flight cancellations and delays with outstanding accuracy.
In September 2012, Traxo acquired the assets of GoMiles to enhance its frequent flyer management capabilities.
FinSMEs
02/10/2013