Volantio Secures $2.6 Million in Series B Financing
Volantio, a provider of post-booking revenue and capacity optimization software for airlines, today announced $2.6 million in Series B funding. The round was led by Ingleside Investors and included strategic investors International Airlines Group (IAG), JetBlue Technology Ventures, and Qantas Ventures.
YanaTM, Volantio’s flagship web-based platform, uses machine learning algorithms to drive higher unit revenues and improved capacity utilization after customers have booked their flights, with the additional goal of improving overall customer experience. Airlines use the technology proactively to identify flexible passengers on high demand flights, give them offers to move to lower demand flights, and automatically rebook them once they accept. Passengers are notified via mobile, days in advance of departure, minimizing last-minute hassle and providing enough time to change plans accordingly.
According to the company, it has launched both revenue- and operations-focused versions of YanaTM with Qantas, Iberia, Volaris, and Alaska Airlines, and it has a number of additional customers in the pipeline.