US online personal travel organiser Traxo has secured $4.2 million in funding to back international expansion.
The move comes a year after the company acquired the assets of GoMiles to enhance its frequent flyer management capabilities.
Traxo will invest the new funds in product development and international expansion.
The fresh investment has come from Advantage Capital Partners, Silver Creek Ventures, and Thayer Ventures.
The company, established in 2009, keeps track of travel reservations no matter where they are booked on the web, provides frequent flyer mileage and travel management tools, social travel capabilities, and a new mobile app designed for iOS devices.
Damon Rawie, managing director of Advantage Capital Partners that led the investment, said: “We love the way that Traxo has pioneered the automation of critical travel details that enable and empower travelers throughout the travel cycle.
“We have been tracking Traxo’s progress for some time, and have been impressed with their recent momentum. We are delighted to provide growth capital for a pioneering travel venture that is driving economic development right here in Texas.”
Silver Creek Ventures general partner Michael Segrest added: “Corporations and individuals are heavily taxed by cumbersome details related to travel reservations and itineraries and we see Traxo as the ideal platform to add significant value and efficiency for both corporate and leisure audiences.
“Traxo’s recently launched mobile app and business-to-business capabilities poise the business for significant growth.”
Jeffery Jackson, managing director of Thayer Ventures, said: “Traxo is a great example of Thayer’s investment thesis, which is to identify innovative companies that are disrupting the travel space, producing win-wins for travelers and travel industry leaders alike.”
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