Hospitality 1st closed $3m Series B financing

Victoria
By Victoria June 11, 2013 13:51

Hospitality 1st closed $3m Series B financing

Hospitality 1ST, which provides airlines with a SaaS platform to automate airline employee space-available travel, has closed a $3 million in Series B financing. The round was led by Gerbera Capital and Mexico Ventures, with participation from existing investors Baroda Ventures and Thayer Ventures.
The funding comes as the company builds momentum in the 22 million-strong market for employee-related airline travel. The company’s suite of SaaS products helps airlines reduce costs in ticketing, and helps employees book discounts that make the travel experience more cost-effective, enjoyable and rewarding.
ID90T’s clients include airlines such as Aeroflot Airlines, Alaska Airlines, Frontier Airlines, Hawaiian Airlines, Spirit Airlines and United Airlines, among others.
ID90T’s CEO Mike Stacy said, “We bring airlines innovative solutions that decrease the cost of every aspect of airline employee space-available travel, while at the same time providing significant travel benefits for their employees. The response continues to be extremely positive for our products, and for our vision for the future.” He concluded, “We are grateful to our clients for their support, and to all investors and advisors. We look forward to a year of dynamic growth and innovation with several new products planned for release in 2013.”
ID90T will use its funding to expand its suite of products and services, increase sales and marketing activity, and enhance its corporate positioning and marketplace presence.

Victoria
By Victoria June 11, 2013 13:51
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