In a year where travel tech funding had seen a sluggish few months, FLYR has flipped the script, securing a massive $295 million to power the future of travel technology. This marks the biggest travel tech deal of 2024 to date. The funding, led by WestCap, will enable FLYR to accelerate product development, delivering cutting-edge AI-powered solutions to major airlines and hospitality brands.
As travel tech funding trends upward again, this investment stands out. FLYR’s impressive 290% growth in annualized recurring revenue has attracted heavyweight investors like BlackRock, Streamlined Ventures, and a subsidiary of the Abu Dhabi Investment Authority (ADIA), with the company now having raised over $500 million to date. This round included a $225 million Series D and $70 million in credit led by Vista Credit Partners, reinforcing FLYR’s position as a trailblazer in modernizing travel.
FLYR’s innovative AI-driven platform enables airlines and hotels to break free from outdated legacy systems, offering a seamless digital experience to customers while enhancing operational efficiency. Industry giants such as Avianca, JetBlue, Air New Zealand, Virgin Atlantic, and Best Western Scandinavia are already leveraging FLYR’s solutions to manage data, interconnect systems, and deliver superior digital experiences.
“We’ve been on a mission to revolutionize the travel industry since day one,” said Alex Mans, Founder and CEO of FLYR. “This funding is a testament to our growth and the impact we’re making. We’re excited to continue pushing the boundaries of what’s possible for our partners and the travelers they serve.”
Laurence A. Tosi, Managing Partner and Founder of WestCap, will join FLYR’s board of directors, bringing decades of expertise in scaling companies to support FLYR’s global expansion. Tosi noted, “FLYR is delivering the modern platform the travel industry desperately needs. WestCap is proud to support FLYR as they lead the charge in transforming how the world travels.”
This funding round follows a period of remarkable growth for FLYR, including a 290% increase in annualized recurring revenue, new partnerships with industry leaders, and recognition as the “Best AI-Based Solution for Transportation” at the AI Breakthrough Awards.
