Spotnana | September 24, 2021
Spotnana Technology Inc.,the first technology company to build an open global innovation platform for travel, today emerged from stealth mode and announced $41 million in funding. The funding includes a $34 million Series A led by ICONIQ and Madrona Venture Group.
“Spotnana’s cloud-native unified global platform solves problems that have plagued the corporate travel world for decades and represents a giant leap forward for all participants travel suppliers, travel management companies, organizations with traveling employees, and the travelers themselves.”
The Series A round also included participation from Mubadala Capital, Decibel VC and super angels including technology and product luminaries Gokul Rajaram - Doordash, Scott Belsky - Chief Product Officer Adobe, Jeetu Patel - EVP Cisco, Vinod Marur - SVP Engineering Databricks and Akshay Bhargava - Chief Product Officer 1Password. The Series A comes on the heels of a Seed round of $7 million raised in early 2020, from Madrona Venture Group, 8VC, and Global Founders Capital, Shah Capital and angels.
“Spotnana is re-envisioning the travel experience from the ground up. By applying a cloud native and open approach to the technology stack, our platform enables travel industry participants to build on our platform to offer their services, and work with partners,” said Sarosh Waghmar, CEO and co-founder of Spotnana. “Spotnana’s unique and modern approach enables entirely new business models for travel buyers and suppliers which are only possible on its global software-as-a-service platform.”
Founded by travel veteran, Sarosh Waghmar, CEO, and technologist, Shikhar Agarwal, CTO, Spotnana has assembled an impressive team of technology and industry leaders with deep domain expertise in the travel industry, and a desire to dramatically improve the value proposition for all participants in the travel ecosystem. Bill Brindle, the former COO of American Express GBT and HRG, serves as Vice President of Travel Operations and Steve Singh, the founder and former CEO of Concur, serves as Executive Chairman of Spotnana’s Board of Directors. In addition, with the Series A investment, Greg Stanger, General Partner at ICONIQ, joins the board. Greg formerly served as CFO of Expedia.
“Spotnana is a cloud-native travel platform designed to serve the global, multi-trillion-dollar travel industry. We serve corporate customers, travel management company [TMC] partners, technology partners and our supplier partners – all on a global basis. The Spotnana TMC service is available to our corporate customers to run and manage their global travel program. Our TMC partners are using the Spotnana platform to deliver travel management services to their customers. Next-generation leaders in the spend management, meetings management, and TMC partners, are integrating into and building value on top of our platform, for the benefit of our mutual customers. Just as importantly, we are excited to partner with suppliers from around the world that wish to deliver differentiated content, and functionality to their customers. There is a tremendous opportunity to build a global platform that can dramatically improve the traveler experience while delivering a better value proposition for every member of the travel ecosystem. I am honored to serve as Spotnana’s Executive Chairman,” commented Steve Singh, Managing Director at Madrona Venture Group.
“We are honored to partner with Sarosh and the Spotnana team,” said Greg Stanger, General Partner of ICONIQ Growth. “Spotnana’s cloud-native unified global platform solves problems that have plagued the corporate travel world for decades and represents a giant leap forward for all participantstravel suppliers, travel management companies, organizations with traveling employees, and the travelers themselves.”
The company’s TMC service is now live with more than 50 early corporate travel customers, providing seamless global service for business travelers and empowering administrators to manage travel across dozens of global offices from one single online dashboard.
The funding will be used to expand the services available on the Spotnana platform and to build sales, marketing, partner, customer success organizations.
Spotnana, founded in early 2020 is unbundling travel with the world’s first cloud-native, open, platform for global travel innovation.
Travelport | September 17, 2020
Travelport Worldwide Limited ("Travelport" or the "Company"), a leading travel technology company, today announced that it has reached an agreement with the Steering Committee of the Ad Hoc Group of Lenders (the "Ad Hoc Group") to effectuate certain financing open market purchase and exchange transactions, pursuant to which, among other things, the Company's existing lenders will provide $500 million in new funding to the Company and the parties will release all related litigation and claims against one another. The financing open market purchase and exchange transactions will be open to all lenders on a pro rata basis. The transactions are expected to close by September 24, 2020, and have been backstopped by certain members of the Ad Hoc Group and affiliates of the Company's existing equity owners, Siris Capital Group, LLC ("Siris") and Evergreen Coast Capital Corp. ("Evergreen"), the private equity affiliate of Elliott Management Corporation ("Elliott").
Traxo & International SOS | October 22, 2021
Dallas-based Traxo, Inc., the global leader in real-time corporate travel data capture and pre-trip auditing, and International SOS, the world’s largest provider of health and security services, announced a new commercial agreement, which can provide International SOS clients with immediate access to all travel itinerary data before travel begins, including ‘off-channel bookings’ occurring outside the client’s mandated corporate travel policy, in real time, enabling enhanced duty of care for business travelers.“Our new partnership with International SOS is coincidentally and perfectly timed with the newly issued global travel risk management benchmark, ISO 31030.
”This new ISO standard provides critical guidance on how organizations should effectively address the responsibility of ensuring the security, safety, health and well-being of individuals traveling for work as the world continues to navigate through the travel ramifications of COVID-19.”
-Traxo Founder and Chief Executive Officer Andres Fabris.
As a result of the integration with Traxo’s API (application programming interface), when an International SOS corporate client signs with Traxo, both International SOS and its client gain immediate visibility into all travel itinerary data from every booking made outside the client's mandated corporate travel policy. These previously ‘invisible bookings," which can represent as much as 50 percent of a company's business travel, are automatically detected, audited, and processed by Traxo and securely transmitted directly to the International SOS duty-of-care system for immediate risk management coverage seconds after the employee books their travel, regardless of channel.
"As organizations begin to re-open their business travel, travel risk management programs must be revitalized and rooted in effective tools that will protect ALL traveling employees and ensure the business is meeting its requirements for duty of care,The need for travel managers to effectively manage ‘booking leakage’ is more critical now than ever before, making it essential for us to ensure all out-of-policy and supplier-direct bookings can be integrated into our monitoring solutions.
-said Andrew Miller, Director of Partnerships at International SOS
Partnering with Traxo helps us improve our traveler location awareness capabilities by ensuring that we don’t miss a single itinerary, no matter how it was booked, and the real-time nature of this data can help us prevent or mitigate emergency situations much more effectively.
The Traxo pre-trip, booking-data detection solution works in the background by capturing all off-channel bookings immediately after purchase, whether that be a reservation for a hotel, airline, car rental, rail, or ground transportation; or a cancelation or trip modification. That itinerary data is stored in Traxo’s highly secure infrastructure and made available to the corporate travel manager in Traxo’s dashboard application to view and report on. All booking data is automatically passed to International SOS for comprehensive risk management monitoring of all upcoming travel. There is no extra effort required on behalf of the employees or travel managers.
We're incredibly pleased to team with the world's largest corporate travel duty-of-care service to provide the ability for all of their clients to improve visibility into all employees’ business travel plans," Fabris noted. "The reality today is that corporate travel leakage is inevitable, and unless it’s detected pre-trip, it can be extremely challenging to effectively monitor the safety of traveling employees. Full visibility is not simply a luxury as it once was; it's an essential imperative in today's business travel landscape to reduce corporate liabilities and ensure the health and safety of all traveling employees.
International SOS clients who work with multiple travel management companies (TMCs) can opt to have all their TMC booking data consolidated with their off-channel booking data and fed directly into the International SOS Tracker system. Traxo easily consolidates all of the bookings from the various TMCs with the non-TMC bookings, and sends it all in one data feed to International SOS for real-time duty-of-care monitoring.
International SOS and Traxo will host a joint webinar on October 26th to discuss the new Travel Risk Management Standard Benchmark ISO 31030:2021, and how together, they can help organizations meet their duty-of-care requirements.
Dallas-based Traxo, Inc., the global leader in corporate travel data capture and pre-trip auditing, eliminates blind spots and enhances duty of care by enabling corporate travel managers and managed travel agencies to easily track and proactively manage complete omnichannel travel activity in a single, real-time, system of record. Founded in 2008, Traxo clients and partners include Amex GBT, United Airlines, Lufthansa, Easy Jet, Tripadvisor, Chrome River / Emburse, Coupa, International SOS, WorldAware, and many more. Two recent Business Travel News Travel Managers of the Year use Traxo, and The Business Travel Magazine recently named the Company to its 2021Tech HotList, a list of the “top tech innovators shaking up the industry.” With Traxo, corporations reduce risk, improve traveler safety and maximize savings. Learn more at www.traxo.com or follow us on Twitter and LinkedIn.
About the International SOS Group of Companies:
The International SOS Group of Companies is in the business of saving lives, protecting your global workforce from health and security threats. Wherever you are, we deliver customised health, security risk management and wellbeing solutions to fuel your growth and productivity. In the event of extreme weather, an epidemic or a security incident, we provide an immediate response providing peace of mind. Our innovative technology and medical and security expertise focus on prevention, offering real-time, actionable insights and on-the-ground quality delivery. We help protect your people, your organisation's reputation, as well as support your compliance reporting needs. By partnering with us, organisations can fulfil their Duty of Care responsibilities, while empowering business resilience, continuity and sustainability.
Founded in 1985, the International SOS Group, headquartered in London & Singapore, is trusted by 12,000 organisations, including the majority of the Fortune 500, as well as mid-size enterprises, governments, educational institutions and NGOs. 12,000 multicultural medical, security and logistics experts stand with you to provide support & assistance from over 1,000 locations in 90 countries, 24/7, 365 days.