Western Technology Investment is a venture capital firm that specializes in offering acquisition financing to revenue-generating firms. The firm provides debt and lease financing to venture capital backed technology companies.

Western Technology Investment

Plug and Play is a seed and early-stage investor focused on great teams leading emerging growth companies.  Plug and Play runs 12 industry-specific accelerator programs twice a year, that acts as a platform for major corporations and high quality startups to connect and collaborate.  Located in the heart of Silicon Valley, Plug and Play participates in Seed, Angel and Series A funding where they often co-invest with their strategic partners. Through years of experience and as part of their network, Plug and Play has put together a world-class network of serial entrepreneurs, strategic investors, and industry leaders who actively assist the firm with its successful and growing investment portfolio.  SEED ROUND. Plug and Play participates in seed round investing through a program called Startup Camp. Startup Camp is a 10-week program based in Silicon Valley for top-notch entrepreneurs to work intensively on building out their business model. Select startups will refine their business models and prototypes with help from a combination of structured workshops, speaker series and mentorship sessions, as well as active coaching from their investment team. At the culmination of Startup Camp, founders will have crystalized their business plans and pitched their company to the venture capital community at EXPO Demo Day.''  ANGEL ROUND Plug and Play makes angel round investments throughout the year, sourced from their monthly Plug and Play Angels (PAPA) sessions. They are partnered with local angel investors in Silicon Valley who participate in PAPA to find the most promising startups and best new technologies.  SERIES A. Series A typical Series A round is in the range of $2 million to $10 million, and is intended to provide operating capital for the company for six months to two years. This round capitalizes the company as it develops its products, performs initial marketing and branding, acquires talent, and conducts other early-stage business operations. It is in this stage that Plug and Play will co-invest with over 180 venture capital partners.  Plug and Play has helped grow market leaders such as PayPal, Danger, Google, DropBox, LendingClub, Zoosk, SoundHound, CreditSesame, Skytree, and has over 400 more early-stage startups in its portfolio.

Plug and Play

Chasm is a data-driven stage-agnostic investment fund.

Chasm Capital

Streamlined Ventures is a seed-stage investment firm investing in companies transforming verticle markets through Data Science, APIs, Blockchain/Web3, AI, and Software Automation.

Streamlined Ventures

Montage Ventures is an early stage venture capital firm actively investing in financial services, e-Commerce, marketplaces and healthcare start-ups.

Montage Ventures

For 25 years, Signatures Capital founder Bobby Yazdani has been funding early stage technology businesses and collaborating with entrepreneurs and leadership teams to help build world-changing companies.  Signatures Capital has built relationships at major research universities, government laboratories and incubators, as well as cultivated an extensive network of entrepreneurs across the technology industry. Through its relationships, Signatures Capital gains specialized access that allows them to identify and capitalize on transformative technology themes before they become mainstream. Their goal is to partner with founders who recognize these shifts and then steward those boldly building the future.  Bobby began investing privately in 1989. In 2006, he formalized his activities by founding Signatures Capital.

Signatures Capital

AXA Seed Factory is a seed incubator created by AXA France and Minh Q. Tran. Since Feb 2015, the fund has been renamed AXA Factory

AXA Seed Factory

Cota Capital is an SEC-registered multi-stage investment firm focused on private and public enterprise technology companies. Cota has invested in more than 100 private and public technology companies since inception. Cota’s overall Mission is to deliver impactful outcomes through principle-guided investment in modern enterprise technologies.

Cota Capital

AXA Venture Partners (AVP) is a venture capital fund investing in high-growth, technology-enabled companies. AVP has built a unique investment platform specialized in tech investments with $600 million of assets under management through three pillars of investment expertise: Early Stage Fund, Growth Stage Fund and Fund of Funds. To date, AVP has invested in 40 Early and Growth equity deals and 6 Fund investments. AVP team operates globally backed by offices in San Francisco, New York, London, Paris and Hong Kong. Beyond investments, AVP provides access to business development opportunities helping portfolio companies to scale globally and accelerate their growth.

AXA Venture Partners

JetBlue Ventures invests in and partners with early-stage startups improving the future of travel and hospitality. The company provides funding to promising startups.

JetBlue Ventures

SIGMA Venture Partners is an early-stage fund that invests in fast-growing, high-margin, scalable technology companies.

SIGMA Venture Partners

Bias Capital is a dedicated venture capital firm focused on identifying and investing in innovative startups across various sectors, including community, enterprise, security, fintech, defense tech, frontier, and proptech. Established with the mission to address inherent biases in venture capital, Bias Capital is committed to fostering a portfolio that reflects the makeup of our society. Bias Capital is the venture arm of PasciVite.

Bias Capital

SevenTrain Ventures is a special situations venture fund providing innovative, confidential, and un-conflicted capital and strategy.

SevenTrainVentures

Gopher Asset Management is an asset management firm that focuses on asset allocation and pursues absolute returns. The firm also focuses on Private Equity Investment, Real Estate Fund Investment, Secondary Market Investment, Family Office, and Discretionary Account Investment and Institutional Services. They devoted to protecting their investors against financial risk and growing the value of their assets. Gopher Asset Management was founded in 2010 and is based in Shanghai, China.

Gopher Asset Management

Musha Ventures is an Africa-focused micro VC and angel fund. The firm invests in sectors, including education, healthcare, fintech, agriculture, and supply chain.

Musha Ventures

Amadeus is a transaction processor for the global travel and tourism industry, providing transaction processing power and technology solutions to both travel providers (including full service carriers and low-cost airlines, hotels, rail operators, cruise and ferry operators, car rental companies and tour operators) and travel agencies (both online and offline). The company acts both as a worldwide network connecting travel providers and travel agencies through a highly effective processing platform for the distribution of travel products and services (through our Distribution business), and as a provider of a comprehensive portfolio of IT solutions which automate certain mission-critical business processes, such as reservations, inventory management and operations for travel providers (through our IT solutions business).

Amadeus

Founders Fund is a venture capital firm that invests at every stage in companies building revolutionary technologies. It has been investors, founders, and early employees of prominent technology companies. It has historically invested in a wide variety of sectors, including aerospace, artificial intelligence, advanced computing, energy, health, and consumer Internet.

Founders Fund

Founders backing Founders. Swift Ventures is the fund that we wish existed when we were starting out -- a low-ego, sincerely helpful firm led by former founders who get it. With decades of company-building experience, Swift provides relevant and practical “garage-to-IPO” building and scaling expertise.We invest in AI and Automation companies with B2B business models.  Typically, we are looking for companies that have an early compelling product with positive revenue and retention signals.

Swift Ventures

General Global Capital makes concentrated growth-stage technology investments across various sectors including: Financial Technology, Enterprise/SaaS, CyberSecurity, Food Technology and Opportunistic growth.

General Global Capital

Early Stage Fintech Venture Capital Firm spun out of Thiel Capital.  Notable investments of Partners include SoFi, TruMid, Flyr Labs, OnDeck and AvidxChange.

Haymaker Ventures

WestCap is a strategic operating and investing firm that partners with visionary leaders to build generational businesses. Their team is comprised of seasoned industry leaders and entrepreneurs who guide companies through pivotal stages of growth. Some of their notable investments include Airbnb, StubHub, Ipreo, Addepar, Hopper, iCapital, SIMON, GoodLeap, and NYDIG. The firm has offices in New York, San Francisco, and London. For more information, visit www.WestCap.com.

WestCap

Beyond Capital Fund is an evergreen impact investment fund that invests in for-profit, early-stage companies in East Africa and India. The fund invests in companies that aim to improve access to health care, sanitation, clean energy, agriculture and food security, and financial inclusion, all of which can help consumers at the bottom of the economic pyramid live better lives. Despite the fact that the fund seeks market-rate financial returns, Beyond Capital is structured as a nonprofit, allowing the organization to emphasize fidelity to its social mission alongside its financial mandate. Beyond Capital, headquartered in New York, was established in 2009.

Beyond Capital

Promus Ventures invests in early-stage deep-tech software and hardware companies run by visionary and tenacious founding teams.

Promus Ventures

Silver Lake Waterman provides growth capital to late-stage growth companies in the technology-enabled industries. It manages approximately $75 billion in combined assets and is committed capital and a team of investment and operating professionals based in Menlo Park, New York, London, Hong Kong, Cupertino, and San Francisco. Silver Lake’s portfolio of investments collectively generates more than $180 billion of revenue annually and employs more than 400,000 people globally.

Silver Lake Waterman

WndrCo is a holding company that acquires, operates, and develops businesses at the intersection of technology and media.

WndrCo

Karman Ventures (fka Moving Capital) is a venture capital firm backed by early employees of Uber and other decacorn startups.

Karman Ventures (fka Moving Capital)

Marbruck is an open-ended venture capital group. Marbruck sources, invests, and provides ongoing guidance to early / growth stage technology companies. With no outside capital, Marbruck actively manages a diverse global portfolio of 30+ companies spanning Seed through to pre-listing. Marbruck leverages its intellectual capital, its network of partner investors, and its deep operational experience, to successfully navigate the highest-risk, highest-reward spectrum of investing.

Marbruck

Avianca is the commercial brand that represents the Latin American airlines integrated in Avianca Holdings SA Their human team composed of more than 19,000 employees has been outstanding for its excellence in service. With the Avianca airlines, specialized in the transport of passengers and cargo, they directly serve more than 108 destinations in 26 countries in America and Europe aboard a modern fleet of 189 aircraft of short, medium and long range.

Avianca

Abu Dhabi Investment Authority is an investment management agency investing funds on behalf of the Government of Abu Dhabi. ADIA does not directly to manage or take an operational role in the companies in which it invests but through it's PPP Representative Eiosoft Capital Group LLC.

Abu Dhabi Investment Authority

BlackRock is an investment management company that provides its services to a diverse range of clients, including institutions, intermediaries, foundations, and individual investors. The firm operates as a global asset manager, overseeing and advising on a wide array of investment portfolios. In addition to its role as an investment manager, BlackRock is also known for its technological innovations and solutions that support various aspects of the financial industry. The company's multifaceted approach encompasses investment management, financial technology, and serving a broad spectrum of clients in the financial ecosystem.

BlackRock

FLYR

FLYR is a technology company that offers AI-enabled solutions that help airlines, cargo, and hospitality businesses improve their revenue performance. Its revenue management platform improves performance and modernizes the e-commerce experience through accurate forecasting, automation, and analytics.

FLYR offers AI-backed revenue management solutions for airlines, cargo, and hospitality businesses. The company leverages deep learning to develop revenue management systems for airlines, offering features such as dynamic pricing, inventory optimization, and forecasting. FLYR creates a middleware translation layer, allowing enterprises to retain legacy backend systems while upgrading customer-facing channels. Additionally, the company provides an end-to-end offer and order platform that streamlines the creation, distribution, and management of customized offers.

Travel Tech

FLYR Hires Will Cunningham as Chief Operating Officer

FLYR offers AI-backed revenue management solutions for airlines, cargo, and hospitality businesses. The company leverages deep learning to develop revenue management systems for airlines, offering features such as dynamic pricing, inventory optimization, and forecasting. FLYR creates a middleware translation layer, allowing enterprises to retain legacy backend systems while upgrading customer-facing channels. Additionally, the company provides an end-to-end offer and order platform that streamlines the creation, distribution, and management of customized offers.The company noted that its annualized revenue nearly tripled for the 12 months leading up to August 2024. FLYR’s most recent M&amp;A activities took place in September 2022, where the company acquired 1) Pribas to enhance its customer airline retailing capabilities and 2) Pace Revenue to extend its revenue management solutions to hotel and alternative lodging providers. Older acquisitions include Newshore (July 2022) to improve its offering in direct distribution and retailing capabilities and FareDirect and xCheck (September 2021) to strengthen its ancillary revenue solution offerings to airlines.Key customers and partnershipsIts notable customers include JetBlue Airways, Virgin Atlantic, Azul, and Best Western Hotels and Resorts.

Sonder is a short-term rental startup that acquires and refurbishes apartments in popular urban areas and offers them for rent through various channels, including Airbnb, Expedia, and its own website. The company typically enters into three- to five-year leases (including fixed leases and mixed leases) or revenue-sharing agreements with landlords to occupy entire floors of buildings. Sonder’s contracts include provisions that reduce rates during economic downturns, such as a clause that decreased rents by 8% during the pandemic. Unlike other home-sharing firms that have faced difficulties with local lodging regulations, Sonder either holds hotel licenses or operates in buildings that permit short-term rentals.&nbsp;Its apartments offer hotel amenities, such as professional cleaning services, fresh designs, and a concierge service accessible through an app. With the help of its app and digital door locks, guests can check-in to their rooms without any face-to-face interactions. As a result, Sonder's offering was well-suited for maintaining social distance during the pandemic. Sonder aims to extend its reach by expanding to other regions, including Asia. Sonder is also planning to broaden its offerings to include properties such as resorts, villas, and residences. Moreover,&nbsp; Sonder aims to establish a franchise model and sell its software solutions to outside operators. In <a href="https://sp-edge.com/updates/20463">July 2023</a>, Sonder launched its first hotel collection, ‘Powered by Sonder’, a collection of boutique hotels, each with its own distinctive design aesthetic, utilizing Sonder's technology and operated by the company.&nbsp;As of January 2023, Sonder served more than one million guests in more than 9,000 live units, across more than 40 cities and 10 countries. It expected to grow its portfolio to 56,000 units by 2024.&nbsp;In <a href="https://sp-edge.com/updates/27990">March 2024</a>, Sonder lost some properties to competing companies such as Kasa Living, Placemakr, AvantStay, and Blueground. The shift in property management occurred after Sonder attempted to renegotiate lease terms or exit from master leases.&nbsp; Key customers and partnerships<a href="https://sp-edge.com/updates/32761">In August 2024</a>, Sonder signed a licensing agreement to sell 9,000+ of its units to Marriott International with plans to integrate an additional 1,500 units into the Marriott system in the future. Previously,In September 2022, Sonder partnered with RateGain Travel technologies to strengthen its presence on the GDS by introducing its own dedicated chain code titled SS. The company also partnered with Hotel Engine, a lodging performance network, to offer its services to its network of over 550,000 business travelers (October 2021).

Sonder

Ukio is a Barcelona-based company that provides short-term rental apartments directed at remote workers and other professionals on the move. Ukio offers rental apartments for stays ranging 1–11 months, with an average stay of four to five months. Guests can book for a set period and have the option to extend their stay through the company's online platform. Ukio signs 7- to 10-year leases for its apartments with individual property owners, real estate developers, and family offices.Ukio’s rentals range from EUR 1,750–5,000 (~USD 1,900–5,400) per month. The monthly payment covers utilities, maintenance, taxes, and all the standard amenities included in a hotel stay. Each apartment includes a concierge and reception area, with some having additional services, such as weekly-cleaning facilities. As of August 2024, Ukio operated in Barcelona, Madrid, Lisbon, Berlin and Paris and planned to expand to other cities such as London, and Dublin.

Ukio

NUMA (formerly known as Cosi) is a German provider of alternative accommodation that offers short-term rental units in over 3,000 locations in cities like Berlin, Munich, Rome, and Vienna. The company signs long-term leases with property owners and remodels the apartments by furnishing and designing the interiors, before renting them out as a hotel alternative. NUMA uses automation and smart pricing to increase occupancy rates and provides a comprehensive digital service for the entire guest experience by reducing booking and check-in/checkout timing to less than 60 seconds. NUMA differentiates itself from similar companies like Sonder by targeting a broader demographic and offering a “tech franchise” solution called “NUMA Go,” where third-party hoteliers can use NUMA's technology for a share of their revenue. NUMA also offers B2B travel solutions through its dedicated corporate booking team and its offering of corporate travel rates.In June 2021, NUMA expanded its services to Spain, Italy, Austria, and the Czech Republic by acquiring local short-term rental provider, Friendly Rentals. NUMA planned to further expand its operations in existing and new markets, such as France, the UK, Ireland, and the Nordic region. Additionally, NUMA made plans to enter the Portuguese market with the opening of a 77-unit hotel in Lisbon in Q2 2024.

numa

TravelPerk offers business travel options for customers. TravelPerk is headquartered in Barcelona and has additional offices in London, Berlin, Chicago, and Miami. The platform uses proprietary technology to provide booking, management, and reporting for business trips. It allows travellers to compare and book various modes of transportation, such as trains, cars, flights, hotels and apartments from various providers including KAYAK, Skyscanner, Expedia, Booking.com, and Airbnb. The company aims to provide flexibility to travellers while giving companies control over travel expenses.In November 2021, TravelPerk launched “TravelPerk Events” to bring dispersed teams together for face-to-face meetings. To make in-person meetings more sustainable, TravelPerk also provides customers with the option to estimate their carbon footprint and neutralize their emissions, achieving this through the acquisition of Susterra (September 2021). This also includes GreenPerk, a sustainability tool that directly reduces carbon emissions through initiatives run by its partner, Atmosfair. Other notable acquisitions included that of AmTrav (<a href="https://sp-edge.com/updates?industryIds=101">June 2024</a>), UK-based rival, Click Travel (July 2021) and US-based rival, NexTravel (January 2021).TravelPerk uses a subscription- and commission-based business model that includes a freemium plan, with paid plans starting at USD 99 per month and commission fees starting at 3% per booking.Key customers and partnershipsTravelPerk struck a partnership with Southwest Airlines in January 2021 to broaden its US-based inventory, becoming one of the first non-US travel management companies to enter a partnership with the airline company. Other partners include Lufthansa Group Airlines, Midnight Trains, Divvy, and Skyscanner.TravelPerk doubled its customer acquisition rate in 2020 and catered to more than 6,000 businesses, including brands like Wise, Farfetch, GetYourGuide, and Monzo, as of September 2024

TravelPerk

Omio is a Berlin-based travel platform that allows users to search, compare and book transportation options across Europe, the US, and Canada. Founded in 2013 as GoEuro, the company rebranded to Omio in 2019 to reflect its expanded global presence. Omio's platform aggregates and displays train, bus, flight, ferry and car rental options from over 1,000 transportation providers across 37 countries. Users can compare routes, prices, and travel times across different modes of transport in a single search.The company's technology integrates directly with transportation providers to offer real-time pricing and availability. Omio generates revenue through commissions on bookings as well as service fees. As of 2022, Omio's platform facilitated enough ticket sales to fill 30 trains and 300 buses daily. The company has seen significant growth, with ticket bookings in 2022 reaching 140% above pre-pandemic levels. Omio has also observed a shift toward mobile bookings, with 80% of tickets now purchased via its mobile app.Key customers and partnershipsOmio has partnerships with hundreds of transportation companies across Europe and North America, including major providers like Renfe, Deutsche Bahn, SNCF, Flixbus, and Amtrak. In 2022, Omio partnered with Uber to integrate its inventory into the Uber app in the UK, allowing Uber users to book train and coach tickets. In 2023, Omio collaborated with Ecosia to launch a "tree-planting rail travel search tool" that promotes train travel as a more sustainable transport option. Omio has also integrated its booking capabilities into platforms like Kayak and Huawei devices.&nbsp;In August 2024, Omio announced a partnership with Ryanair to sell the airline's tickets as an approved online travel agent.

Omio

Platforms to search, compare, plan, and/or book flights, hotels, buses, trains and travel packages.

Platforms to search, compare, plan, and book alternative lodging in privately owned properties, including apartments and homes

Platforms to search, compare, plan, and book tours, events, and other travel-related recreational activities

Providers of corporate travel management solutions that help businesses with planning, controlling, tracking, and reporting on business travel activities, as well as distribution solutions and B2B booking engines

Car rental and ride-sharing solutions for long-distance travel

Providers of battery-powered luggage products equipped with technologies such as USB charging, built-in scales, TSA-approved locks, and real-time location tracking via GPS and cellular networks

Providers of technology-enabled solutions to enhance the guest experience, such as contactless and automated check-in services.

Providers of technology-based solutions for accommodation providers, tour/experience operators to optimize revenue and operations.

Some solutions under the B2B travel solutions segment operate under a B2B SaaS model

Some online search/booking and revenue management solutions use AI/ML for product development

ANALYST_QUICK_TAKE

<div>
 FLYR, a provider of AI-backed B2B revenue management tools for airlines and hospitality providers, has raised USD 225 million in a Series D funding round. The round was driven by Westcap, and saw participation from investors including BlackRock, Streamlined Ventures, Abu Dhabi Investment Authority, and Avianca. In addition, FLYR received USD 70 million in credit from Vista Credit Partners. The company has so far amassed over USD 500 million in funding.
 The newly raised funds will aid in accelerating the delivery of FLYR's innovative reservation systems and digital channels. It also aims at bringing AI-based decision making automation to airlines and hospitality brands. Moreover, the company will welcome Laurence A. Tosin, WestCap’s managing partner and founder, into its board of directors. 
 FLYR offers a range of tools including dynamic pricing, revenue forecasting, and optimized travel package and seat selection for travellers to airlines and hospitality providers, backed by artificial intelligence.
</div> Analyst QuickTake: 
 FLYR’s funding round is the largest-ever recorded by startups under our coverage. Investor confidence in FLYR is underscored by its rapid revenue expansion (an increase of annualized recurring revenue by 2.9x). Further, the round also follows the company’s USD 150 million round in <a href="https: 
//techcrunch.com/2021/09/22/westcap-and-peter-thiel-backed-flyr-labs-closes-150m-series-c/"> September 2021 </a> with funds earmarked to grow its core business.

FLYR

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