Income and
operations optimization firm Volantio has scored $6 million in Collection A financing. The Atlanta-based
startup says it plans to make use of the cash to quickly scale its international crew and
put money into product improvement.
The funding spherical was led by DiamondStream Companions, an
aviation and aerospace enterprise capital agency, with participation from Alaska
Airways and follow-on investments from JetBlue Ventures, IAG, Amadeus Ventures
and Ingleside Traders.
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Within the airline {industry}, Volantio’s GreenLeaf platform makes use of
machine studying to shift demand from flights which can be near promoting out to these
with more room accessible. The corporate just lately expanded into the stay occasions
{industry} by a partnership with Disney Theatrical Group.
“Volantio’s expertise represents a revolutionary skill to
maximize our shoppers’ income whereas additionally benefiting their finish shoppers: the
final win-win,” says Azim Barodawala, Volantio’s co-founder and CEO.
“We respect the assumption our shoppers and buyers have
proven in our market-leading platform, and we’re excited to deploy this capital
to additional scale our transformative resolution globally within the years to return,” Barodawala
says.
In line with Shane Tackett, Alaska Airways’ CFO, Volantio
has delivered greater than $20 million in annual profit to the airline, “and
that quantity continues to develop.”
“Simply as income administration firms remodeled
fixed-capacity industries 30 years in the past, Volantio’s platform is having the same
impression immediately,” Tackett continues. “This expertise shall be industry-standard
performance throughout the subsequent three to 5 years, and we’re so excited to be
each an early adopter and an early investor within the firm.”
Barodawala created the corporate in 2014 with co-founder and chief expertise officer Fenn Bailey.
Hearken to a PhocusWire podcast
episode with Barodawala.
