WHY IT RATES: Journera, which promises to streamline travel journeys, signed agreements with six major travel industry players. —Janeen Christoff, TravelPulse Senior Writer
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Journera, the software platform for creating more seamless travel journeys, announced the close of its Series A financing today. The $9 million funding round was led by B Capital Group, a venture capital firm that specializes in growth-stage investments in groundbreaking companies, with Andreessen Horowitz, Pritzker Group Venture Capital and The Boston Consulting Group (BCG) as co-investors.
Journera also announced its first six major commercial agreements for use of the platform with American Airlines, Hilton, InterContinental Hotels Group, Marriott International, United Airlines and an affiliate of Hyatt Hotels Corporation.
Journera was co-founded by BCG and Jeffrey G. Katz, the former founding chairman, president and CEO of Orbitz Worldwide, president of SABRE’s Travel Information Network and CEO of Swissair.
Travel-related companies can leverage the Journera platform to create better experiences and more seamless end-to-end travel journeys for their customers in a secure and private way. The platform brings together data from throughout the travel journey to open up new possibilities for travelers that are not available today–from automatically rebooking your rental car reservation when your flight is cancelled, to having your hotel room ready early when you arrive at your destination in the morning, to delivering your bags straight to your hotel room so you don’t have to wait at the carousel.
The heart of the Journera platform is the GXR (or Global Experience Record) which creates a seamless view of the travel journey in real-time across all elements of travel – from airlines and hotels to ground transportation and other travel-related services. Travel companies can access the platform through simple publish and subscribe APIs, allowing them to easily implement innovations that enhance customer experiences through the use of the GXR. In addition, the platform allows travel companies to take their existing partnerships and implement them in a simpler, more efficient, and real-time manner.
Journera believes data security and privacy are essential to create great travel experiences and is the industry’s first and only platform that protects all personal data using cutting-edge cryptographic techniques, incorporates a privacy-by-design architecture, and includes sophisticated publisher permissions.
“Travelers want more seamless experiences across every element of their journeys,” said Jeffrey Katz, CEO of Journera. “Journera’s GXR innovation is the principal enabler of that experience. In the travel sector, the goal of a seamless experience has been constrained by the fragmentation of the industry and the limitations of bespoke relationships between companies in the travel ecosystem. By building a platform with the latest technology, advanced security protocols, and a unique permission control architecture, Journera will help the industry deliver the integrated experiences their customers demand.”
Journera’s Series A funding will be used to grow the company’s technology and business development teams and to fuel the scaling of the Journera platform as the company begins to ramp up the number of publishers and subscribers on the platform.
“The quality of Journera’s founding team, investors and customers speaks to the deep travel and technology experience of the management team as well as the salience of the platform they have developed,” said Raj Ganguly, co-founder and partner of B Capital Group. “We are delighted to be involved in what we believe will be a transformational technology for the travel industry.”
Journera launched in 2016 with initial investors including American Airlines, BCG, Hilton, InterContinental Hotels Group, Marriott International, United Airlines and an affiliate of Hyatt Hotels Corporation.
SOURCE: Journera press release.