London-based Travelport, a company that provides travel bookings for travel suppliers worldwide, announced on Friday, March 31, that it has secured $200M (approximately €184.54M) in funding.
The investment came from the company’s owners Siris Capital Group and Elliott Management.
The development follows the company’s recent acquisition of Deem.
Travelport says the raised capital will help it to continue delivering on its ambitious aggressive growth strategy.
Greg Webb, CEO of Travelport, says, “The $200M investment from our owners, Siris Capital Group and Elliott Management, reflect their confidence in Travelport and the continued recovery of the travel industry.”
“The main advantage of private equity ownership is agility, which is crucial in a rapidly changing environment. This investment will allow Travelport to further advance its tech innovations while fueling the company’s momentum.”
Growth in the last month
Travelport highlights the following growth points over the last one month:
- Acquisition of Deem, a travel management platform that meets the increasing demand for a fully-integrated tool with access to all multi-source material, including New Distribution Capability (NDC).
- Smartpoint Cloud was launched, providing a more intuitive and effective way for travel agencies to sell and support travel while boosting sales of higher-value services for suppliers.
- Travelport became the first GDS to provide a solution for American Airlines’ NDC content. Travelport+, the company’s next-generation platform, has had American Airlines NDC content live for nearly a year, and as of mid-March, the content is live across the full Travelport fleet.
About Travelport
Founded in 1971, Travelport is a technology company that manages reservations for tens of thousands of travel suppliers globally.
Its platform, Travelport+, streamlines brand connections, modernises travel sales, and supports digital commerce, connecting travellers and travel suppliers.
Currently, the company is operational in more than 165 countries globally and is focused on driving innovation that simplifies the complex travel ecosystem.
