ID90T Closes New Series B Financing Round
The main function of ID90T is providing airlines with the SaaS platforms in order to automate airline employee travel. It had announced the closure of US$3 million of Series B financing.
The financing round was led by Mexico Ventures and Gerbera Capital. Other participants in the funding round are ID90T's current investors, namely Thayer Ventures and Baroda Ventures.
The funding would be utilized for its 22 million strong market in employee related airline travel. The company's portfolio of SaaS products would assist airlines in the reduction of costs attendant to ticketing as well as booking of employee discounted tickets, resulting in a more cost effective, rewarding and fulfillion travel experience.
Amongst the clients of ID90T are Aeroflot Airlines, Alaska Airlines, Frontier Airlines, United Airlines, Hawaiian Airlines and Spirit Airlines.
According to ID90T CEO Mike Stacy, "We bring airlines innovative solutions that decrease the cost of every aspect of airline employee space-available travel, while at the same time providing significant travel benefits for their employees. The response continues to be extremely positive for our products, and for our vision for the future."
He concluded, "We are grateful to our clients for their support, and to all investors and advisors. We look forward to a year of dynamic growth and innovation with several new products planned for release in 2013."
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