SAN FRANCISCO, CA, FLYR, the data science company that applies the power of predictive analytics and machine learning to the world of travel, announced today it has completed a $8 million Series A round of funding.
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The Series A round was led by Peter Thiel. Thiel is joined by existing investors such as JetBlue Technology Ventures, Streamlined Ventures, AXA Strategic Ventures, Amadeus, Western Technology Investment, Plug and Play and Chasm Capital Management. The investment will help the company aggressively expand its suite of fare prediction and booking optimization solutions. Phin Upham will join FLYR's Board of Directors.
The Series A financing builds on a great year for FLYR which saw the launch of its FareKeep price protection solution with well known travel leaders such as TripAdvisor.
'We are invigorated by Peter Thiel's investment in FLYR' said Jean Tripier, Co-founder and Chief Executive Officer of FLYR. 'Our fare prediction platform enables solutions that provide peace of mind for travelers, and now we can push innovation even further and faster to meet the demand for new and better ways to book your next trip.'
Founded in 2013, FLYR's products help travelers take the guessing game out of volatile airfare prices along with giving travel providers valuable insights into customer demand and new revenue streams. Underlying FLYR's solutions is a unique prediction platform that can accurately predict airfare at large scale and in real time.
With this investment, FLYR plans to expand beyond its current offering to commercialize new breakthrough products.
The key features of the FLYR fare prediction platform currently include:
-FareKeep, price protection for your fare for up to 30 days
-Foresight, a predictive engine that delivers a comprehensive set of fare predictions down to an unprecedented level of detail and accuracy.
-FareBeacon, the fare alert solution that notifies users prior to anticipated price changes
'This investment will enable us to take a variety of new solutions to market, optimizing travelers' time of booking or the way they pay for their trip', said Alex Mans, Co-founder and Chief Technology Officer at FLYR.
FLYR, Inc. is the finance and data science company that applies the power of predictive analytics and machine learning to the world of travel. FLYR creates ultra-precise price forecasts and leverages those predictions into innovative products that offer unprecedented flexibility to online travel consumers. Based in San Francisco, the FLYR team is constantly improving the scope and accuracy of its fare prediction, optimization and protection solutions to foster innovation for the travel industry.