The financial terms of the transaction were not disclosed.
The company will use the proceeds to continue to expand operations.
Founded in 2009 by Led by Ken Harris, CEO, Plusgrade allows airlines to manage and optimize revenue generated from seat upgrades and other premium services. Through a proprietary software-as-a-service platform, airlines can capture incremental, high margin revenue from unsold inventory and enhance the passenger travel experience.
Plusgrade’s products are fully white labeled and integrated into existing airline reservation systems.
The company serves more than 35 premier airlines globally via offices in Montreal, Canada and New York.
In conjunction with the funding, Jeffrey A. Del Papa, a Principal, Kurt R. Jaggers, a Managing Director, and Jason S. Mironov, a Senior Vice President at TA Associates, will join Plusgrade’s Board of Directors.