Technology and automation are constantly evolving segments. Though these have improved the travel industry, it still remains a challenge to conquer B2B travel. This is where Comtravo tries to establish its lead with its software based on machine learning, which simplifies the booking of business travel.
Berlin-based startup for business travel bookings, Comtravo deploys Artificial Intelligence to provide the best travel options depending on previous booking patterns and saved preferences. It uses software to translate text-based requests such as emails into structured data.
Established in 2015 by Michael Riegel, Jannik Neumann, Marko Schilde, Comtravo lets customers book personalised offers via email in just a single click.
Receives VC funding
Comtravo has just announced that it secured €21 million venture capital funding in a round led by Endeit Capital. New investors such as AER Ticket, which is one the largest sellers of air travel tickets in Europe, Deutsche Bank, and Jan Valentin, the former head of Europe at Kayak also took part in the funding round. The existing investors such as btov, Creandum and Project A were also a part of the investment round.
Eyes to automate booking process
Already, standard requests such as hotel and flight bookings are 60% automated with technologies sich as Artificial Intelligence and natural language processing. Complex requests such as group bookings are managed by travel experts.
“We want to use the fresh funding to automate 80% of the booking process in the near future. Currently, well-trained travel agents have to handle time-consuming, repetitive tasks instead of dealing with more complex requests. We want to change this by continuing to automate simpler tasks so that our travel agents can focus on the really important topics and on providing excellent service,” said Michael Riegel.
Its 65% more affordable!
This Berlin-based startup has witnessed over 300% growth and now its core business is making profit. More than 700 medium-sized businesses in the DACH region use Comtravo for business travel bookings. The prominent ones among these include LG Innotek, the Nagel-Group and others.
The software of Comtravo reduces the business travel bookings dramatically, thereby making the same almost 65% cheaper than conventional travel agencies. Hotel and airlines partners are connected to the software’s backend directly with interfaces assuring good fares and seamless integration. The recommendation algorithm ensures to provide personalised offers when it comes to price, availability, etc. In the future, Comtravo will bring new features such as automatic check-in.
Main image picture credits: Comtravo
Stay tuned to Silicon Canals for more European technology news.