Atlanta Tech Start-Up Volantio Secures $2.6 Million in Financing
Monday, February 12, 2018
Volantio, a global leader in post-booking revenue and capacity optimization software for airlines, announced a $2.6M Series B funding round led by Ingleside Investors and strategic investors International Airlines Group (IAG), JetBlue Technology Ventures, and Qantas Ventures.
“We are extremely proud that the investment arms of three key global aviation leaders, spanning three distinct geographies, have chosen to back Volantio and its market leading technology” said Azim Barodawala, Volantio’s CEO.
The offices of Volantio can be found at Flatiron City in Downtown Atlanta, thanks in part to assistance from Invest Atlanta’s business attraction team. The company was also a participant in the 2017 Atlanta International Startup Exchange, which allowed them to travel to Toulouse, France and connect with prospective customers.
YanaTM, Volantio’s flagship web-based platform, leverages machine learning algorithms to drive higher unit revenues and improved capacity utilization after customers have booked their flights, while also improving overall customer experience. Airlines use the technology to proactively identify flexible passengers on high demand flights, make them offers to move to lower demand flights, and automatically rebook them once they accept. Passengers are notified, via mobile, days in advance of departure, minimizing last-minute hassle and providing enough time to change plans accordingly. Offers can include upgrades, travel vouchers, and frequent flier points.
“Our platform provides a rare triple-win,” said Barodawala. “Flexible passengers receive a benefit for changing their travel plans, last-minute travelers are able to access flights that otherwise would have been full, and airlines can better maximize network capacity and unit revenue, while putting greater predictability and control back in the hands of their customers.”Tweet