Skift Take
Skift has covered hundreds of travel startup funding rounds over the past few years, and we’ve spoken with numerous founders and investors about the state of venture capital. They all tell a similar story: There’s money to be had, but the bar is much higher now.
This month, an 11-year-old startup called Flyr raised the largest single round of venture capital for a travel tech company in years: A total package of nearly $300 million.
It's a tough time for startup funding, and the Flyr deal is a shining example of what investors are willing to bet on: Tech that promises to modernize outdated industries and has a real business model with recurring revenue.
Flyr’s basic pitch is to help airlines transform the retail experience into something more like online shopping with an AI-powered platform for dynamic pricing and personalized offers.
“We do deals that are tens of millions of dollars a year, and we do contracts that are five to 15 years in length,” Flyr CEO Alex Mans told Skift. “So that makes it a very, very strong business model with very high recurring revenue. And that, in turn, attracts great investors — especially long-term focused investors.”
Whether early or late stage
Photo Credit: Skift
