Travel Itinerary and Miles Tracker Traxo Raises $4.2 Million in Series A Round
A man looks at the Traxo iPad app. / PlaceIt by Breezi
Traxo is one of several mileage-tracking sites that have been temporarily banned by airlines from accessing frequent flyers’ account information. Agreements have since restarted the service, but Traxo is still competing in a crowded market.
Frequent flyers are using technology to streamline itinerary management and organize loyalty program numbers. And they have several apps and websites to pick. One option, Traxo, is now attracting venture funding to improve its loyalty tracking and itinerary tool, as well as take them overseas.
Today Traxo announced $4.2 million in funding in a Series A round from a group led by Advantage Capital Partners, Silver Creek Ventures, and Thayer Ventures. Traxo keeps track of users’ flight reservations and frequent flyer miles. The startup launched in 2009 and currently incorporates reservations from more than 190 travel companies.
The startup’s technology was recently integrated into German software firm SAP’s Cloud for Travel solution allowing corporations to track employees’ travel expenses outside of the managed booking process.
“Corporations and individuals are heavily taxed by cumbersome details related to travel reservations and itineraries,” said Michael Segrest, a general partner at Silver Creek Ventures. “We see Traxo as the ideal platform to add significant value and efficiency for both corporate and leisure audiences.”
Traxo last updated its iPhone and iPad apps in August 2013.