Corporate travel data specialist Traxo has received an equity investment from Airlines Reporting Corporation (ARC).
The investment builds on Traxo¡¯s commercial partnership with ARC, which was announced last month, and will support the growth of Traxo¡¯s sales and marketing teams, as well as new product investment.
ARC manages air travel distribution data, and last year handled US$95 billion in ticket transactions between airlines and travel agencies.
Traxo Founder and CEO Andres Fabri said: "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 added: ¡°ARC is dedicated to providing omnichannel retailing solutions that help airlines, travel agencies, 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.¡±
Traxo has also appointed two new members to its board of directors: Sam Gilliland, former Chairman and CEO of? Sabre Corp, and Lauri Reishus, COO and EVP of ARC.
Traxo.com; arccorp.com