Flyr, a company developing data analytics products that forecast airfare volatility, today revealed (via an interview with Kambr Media) that it has raised over $10 million in second-round funding.
The fresh capital brings the company’s total raised to roughly $25 million, and Flyr CTO and cofounder Alexander Mans says it will be used to promote research and development, expedite product updates, and expand the company’s workforce of 85 employees.
Flyr, which Mans cofounded in 2013 with Cyril Guiraud and Jean Tripier, launched with a consumer focus and is currently based in Poland and San Francisco.
Much like Hopper, Volantio, Kayak, Google Flights, and other real-time airline booking services on the market, it tracked fares to highlight optimal booking times based on factors like price and availability and let travelers lock in the price of an airline ticket for a one-time fee of about $20.
But several years ago, Flyr began pivoting to a strictly enterprise model, which culminated in the launch of its FusionRM suite of predictive airfare tools.
FusionRM — which operates in private clouds, hybrid clouds, fully managed clouds, and on-premises systems — integrates with over 30 legacy systems to standardize and correlate all of an air carrier’s historical and real-time data, including flight schedules, fare structures, seat maps, seat availabilities, competitor pricing, web analytics, ancillary sales, fare filings, and promotional calendars.