Fetcherr, an artificial intelligence-driven pricing solution for the airline industry, has raised $12.5 million pre-Series B funding.
The investment in the Israel-based company, which follows a $7 million Series A round in 2022, was led by Left Lane Capital and M-Fund.
The funding will go towards opening a North American headquarters, further expansion into other markets and onboarding more airline partners.
Roy Cohen, co-founder and CEO of Fetcherr, says: “The airline industry is broken and needs an overhaul of its current platforms. Fetcherr’s technology provides the best AI-based solutions for optimal revenue performance. We’re committed to making real-time, high-frequency pricing a reality and this financing will ensure we reach these goals.”
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The startup says its airline partners “have reported higher operating revenues since deploying the pricing technology,” which has helped secure the funding.
Harley Miller, CEO and managing partner of Left Lane Capital, says the company “is excited to fuel Fetcherr’s next phase of growth and support their efforts to make a much-needed shift within the travel and hospitality industry, which largely relies on antiquated, inefficient and manual processes today.”
"Fetcherr's AI-based approach to pricing optimization and revenue management represents a critical disruption to the aging software that exists today, and we are excited by Fetcherr’s potential to uplift performance for partners across air, hotel, cargo and beyond.”
In December, Fetcherr, a PhocusWire Hot 25 Travel Startup for 2023, announced the appointment of airline IT and distribution veteran John Dabkowski, founder and CEO of Farview Solutions, to its advisory board.
Alex Cruz, former chairman and CEO of British Airways is also on the advisory board.
See below for Fetcherr's pitch during The Phocuswright conference:
Fetcherr - Phocuswright Innovation Summitt 2022