Traxo Adds Airlines Reporting Corp. (ARC) as Investor
DALLAS--(BUSINESS WIRE)--Nov 19, 2019--
Traxo, the leader in corporate travel data capture, announced today it has received an equity investment from Airlines Reporting Corporation (ARC ). This investment builds on Traxo’s commercial partnership with ARC announced last month, and will support the continued growth of Traxo’s sales and marketing teams, alongside additional new product investment. Virginia-based ARC is a recognized industry leader in air travel distribution and intelligence, having settled nearly $95 billion in ticket transactions between airlines and travel agencies last year.
“Traxo’s mission is to empower the travel ecosystem with timely access to accurate data so the entire travel experience flows smoothly for travelers and suppliers, corporate travel teams and travel service providers, around the clock and around the world,” said Traxo Founder and CEO Andres Fabris. “To have ARC join Traxo as both a commercial partner and now an investor further validates this mission, given ARC’s unparalleled insights into the unique needs of the corporate travel industry. We are thrilled to welcome them aboard.”
ARC President and CEO Mike Premo commented, “ARC is dedicated to providing omnichannel retailing solutions that help airlines, travel agencies, travel management companies (TMCs) and corporations do business together. Traxo provides travel managers and TMCs with much-needed visibility into the direct distribution channel, enabling them to provide better duty of care for their travelers. ARC’s equity position in Traxo highlights our commitment to improving corporate travel in every channel; we’re confident about their continued growth and the positive impact they will have on the travel industry.”
Today, Traxo also announced the appointment of two new members to its Board of Directors. The addition of Sam Gilliland, former Chairman and CEO of Texas-based Sabre Corp., and Lauri Reishus, COO and EVP of ARC, further bolsters the depth of travel industry expertise supporting the company.
“Both Sam and Lauri are longtime, respected veterans of the travel industry and bring incredibly deep domain experience to our team,” Fabris noted. “We are very fortunate to have them by our side as we scale our business to meet the needs of the critical stakeholders in the corporate travel industry.”
“Traxo bridges a critical gap for the multiple stakeholders involved in delivering an exceptional corporate travel experience,” commented Traxo’s new board member, Sam Gilliland. “I look forward to working with Traxo’s Board and leadership to further evolve Traxo’s position as the premier solution for corporate travel data management.”
Commenting on her appointment as a new Traxo board member, Lauri Reishus said, “ARC sees enormous value in Traxo’s ability to unlock the data silos that drive inefficiencies in corporate travel management. I’m excited to join Traxo’s Board to help advance Traxo’s solutions in the worldwide corporate travel marketplace.”
Dallas, Texas-based Traxo, Inc. provides travel data capture and itinerary intelligence solutions to companies worldwide. Through its robust and integrated suite of services, Traxo enables travel managers and travel management companies (TMCs) to comprehensively track total travel spend, regardless of booking channel. And by leveraging its existing API-based integrations, Traxo makes it possible to safely distribute that same travel data to the corporate travel industry’s most popular microservices. For more information, visit http://www.traxo.com.
An industry leader in air travel distribution and intelligence, ARC provides channel-agnostic tools and insights to help the global travel community connect, grow and thrive. ARC enables the diverse retailing strategies of its customers by providing flexible settlement solutions, innovative technology and access to the world’s most comprehensive air transaction dataset. In 2018, ARC settled $94.8 billion in transactions between airlines and travel agencies, representing more than 295 million passenger trips. For more information, please visit arccorp.com.
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KEYWORD: TEXAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: DATA MANAGEMENT AIR TECHNOLOGY TRANSPORT OTHER TRAVEL TRAVEL
SOURCE: Traxo, Inc.
Copyright Business Wire 2019.
PUB: 11/19/2019 10:04 AM/DISC: 11/19/2019 10:04 AM