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