Big data travel platform Boxever completes $6m round led by Polaris Partners
Deal follows recent client win of Asian airline Tigerair
Boxever, a big data and personalisation platform for airlines and travel operators, has announced the completion of a $6m funding round led by investment group Polaris Partners.
Launched in December 2011, Dublin-based Boxever uses real-times analytics on over 60 millon guest profiles on travel and airline sites to understand customer shopping, purchase and support interactions.
It then communicates this data to clients through its platform with the goal to help them better understand and communicate with their users and increase conversion rates.
Having recently hired over 20 new employees to its team, the big data specialist intends to use the investment to double its staff numbers in the coming year.
It also plans to increase its client portfolio having just signed a new client, Asian travel operator Tigerair, to boost the airline’s revenues and sales process.
The deal was also backed by Irish investment firm Frontline Ventures who are looking to help “expand [Boxever’s] rapidly growing business”.
Noel Ruane, European venture partner with Polaris Partners, said: “We are delighted to join the Boxever team and help them accelerate their global growth plans.
“Their deep travel domain expertise coupled with their outstanding engineering and data science capabilities is solving a huge unmet need in a $3.4 trillion industry.”
Boxever CEO, Dave O’Flanagan, commented:
“Their [Polaris’] expertise and strategic input will be invaluable as we grow, and the funding enables us to accelerate our growth plans and drive our product strategy so that we can capitalize on the huge opportunity in travel”.
Discussing the addition of Tigerair to its client portfolio, O’Flanagan said: “Being selected by Tigerair is an incredible validation of what we’re doing at Boxever.
“Airlines have access to vast amounts of untapped structured and unstructured information about their guests and very few are using this effectively.”