SilverRail, a Woburn, MA-based train travel platform, closed a $40m Series C funding.
The round was led by Mithril Capital Management with participation from existing investors Canaan Partners, Sutter Hill Ventures and Brook Ventures. In conjunction with the funding, Ajay Royan, co-founder of Mithril, will join SilverRail’s board of directors.
The company intends to use the funds to accelerate the integration of global rail carriers, continue building its search technology, and expand carrier IT solutions. This will include multi-modal journey planning and pricing, booking and reservation management, inventory and seating management, and reporting and analytics.
Co-founded in 2009 by CEO Aaron Gowell and Will Phillipson, SilverRail provides a search and distribution platform which aggregates global rail content into a unified system through direct supplier connections, standardizing the search, booking, and fulfillment processes.
It is connected to markets accounting for $60bn in rail transactions throughout North America and Europe and is expanding to Asia.