Yapta, a Seattle, WA-based developer of an airfare price tracking solution for the corporate travel industry, raised $4.2m in Series D funding.
The round was led by Concur (Nasdaq: CNQR), a provider of integrated travel and expense management solutions, through the Concur Perfect Trip Fund. The deal also gave the company an option to raise an additional $2m over the next 90 days.
The company intends to use the funds to expand its sales and marketing efforts and pursue other opportunities in corporate price tracking.
Led by James Filsinger, CEO, Yapta provides FareIQ, a patent-pending Intelligent Price TrackingTM technology that provides in-depth, 24×7 analysis and insights into corporate airfares, spotlighting opportunities to re-book tickets at lower prices, allowing corporations to save on a daily basis. The solution integrates with agents’ workflow by dynamically monitoring pricing on individual passenger name records (PNRs) that are placed on a queue by the corporation or its travel management company.
Upon recognizing a savings opportunity, FareIQ immediately issues a series of messages, including email alerts, a FareIQ web portal notification, and remarks posted directly in the PNR.