Traxo, a Dallas, Texas-based provider of a traveler data aggregation platform, raised $5.2m in Series B financing.
The round was led by TripAdvisor (NASDAQ:TRIP), with participation from existing investors Thayer Ventures, Advantage Capital Partners, and Silver Creek Ventures along with several new investors including Aristos Ventures. In conjunction with the funding, TripAdvisor will join Traxo’s board of directors.
The company, which had raised a $4.2m Series A financing round in September 2013, intends to use the funds for its ongoing technology initiatives and further extension of sales and marketing efforts.
Led by Andres Fabris, founder and CEO, Traxo provides itinerary data aggregation solutions for travel agencies and content providers, corporations, TMCs, online booking tools, and other service providers to capture off-platform bookings, enhance policy compliance, and comprehensively track travel spend regardless of channel. The platform also offers API-based and hosted white label solutions, along with private branded email parsing and data normalization solutions.
It is used by a broad range of companies in corporate and leisure travel including Chrome River, Lufthansa, Travel and Transport, Cornerstone Information Systems, iJet, InsideFlyer, among others.