SEATTLE, WA -- 06/25/09 --
Yapta.com, an online travel shopping service
that monitors airfare and hotel prices for travelers, today announced it
closed a $2 million Series B investment round led by Voyager Capital. The
financing, which also includes investment from Bay Partners, First Round
Capital, Swiftsure Capital, W Media Ventures and private investors,
increases the company's total capital raised to $7.7 million. The funding
will be used to further the development of Yapta's airfare and hotel price
monitoring service and provide working capital for the company's continued
marketing efforts.
"Now more than ever, do-it-yourself travel planners need the tools,
information and services that can assure them that they are getting the
maximum value on their travel arrangements," said Tom Romary, president and
CEO of Yapta. "With airfares and hotel rates fluctuating wildly from one
day to the next -- and a number of sources providing conflicting
predictions on where prices are headed -- the value-conscious traveler
still isn't sure when to buy. Our Series B funding will enable us to
continue the innovation of a next-generation price tracking service that
assures travelers when they are getting their ideal travel arrangements at
the best price."
According to a May 2009 survey of travel agents conducted by American
Express Travel, more than half (60%) of those polled say that they see more
travelers seeking their assistance to help find the best deal this year
than in the recent past. Meanwhile, 89% of travel agents report receiving
more inquiries about deals this year than in the recent past. Travelers
using Yapta are more self-reliant and confident in their purchasing
decisions because they are better informed of shifting travel prices and can
more easily recognize a deal by having access to pricing in a historical
context.
"Yapta has made excellent progress in just two years, having disrupted an
industry through innovative pricing technology and delivering on its value
proposition of saving travelers money," said Bill McAleer, managing
director of Voyager Capital. "The management team has proven they have
what it takes to generate recurring usage of the service and grow revenue,
and I'm looking forward to working with them to advance the business
forward."
In addition to its successful funding round, Yapta was recently a recipient
of the "Best Money Saving Tools Award" from WiseBread.com. In 2008 Yapta
was named the "Consumer Product of the Year" by the Washington Technology
Industry Association, a winner of the AlwaysOn Global 250, and one of
Travel + Leisure Magazine's Top Travel Websites.
About Yapta.com
Yapta, Inc. was founded in January 2006 with the mission to assure
consumers that they get the most value out of their trip planning and pay
the lowest possible price for airline tickets. Yapta's online service
monitors airfare price volatility and alerts consumers when the price on
"tagged" flights decreases. Bringing to light pro-consumer "guaranteed
airfare rules" offered by many airlines, the service helps air travelers
obtain travel vouchers -- and in some cases, cash refunds -- when the price
decreases on tickets that have already been purchased. For more
information, visit www.yapta.com.
About Voyager Capital
Voyager Capital is a leading Pacific Northwest information technology
capital firm, providing entrepreneurs with the resources, experience, and
connections to build successful companies. Voyager invests in early and
growth stage business software and services, wireless and digital media
companies, where the firm's domain expertise and go-to-market resources
help build market leaders. Voyager Capital has offices in Seattle, WA,
Portland, OR and on Sand Hill Road in Menlo Park, CA. For more
information, visit Voyager's website at www.voyagercapital.com or telephone
206-438-1800.
About First Round Capital
First Round Capital is a seed-stage venture capital firm dedicated to
helping talented entrepreneurs build remarkable companies. First Round is
not afraid of investing in pre-revenue companies -- and often provides a
company's first outside capital. As former entrepreneurs, the partners at
First Round understand the challenges of launching a new enterprise, and
offer insight and expertise that are as valuable as its venture capital.
The firm has invested in over twenty start-up companies including Jingle
Networks, Krugle, Riya.com, and VideoEgg. Additional information on First
Round Capital is available via the Internet at www.firstround.com.
About Swiftsure Capital LLC
Swiftsure Capital is a Seattle-based private equity firm that invests in
and provides investment banking services for mid to late stage private
growth companies. Swiftsure's professional team has significant operational
and financial expertise as well as extensive relationships with private and
institutional investors. For more information on Swiftsure, e-mail
info@swiftsurecap.com.
About Bay Partners
Bay Partners, LLC is an early stage venture capital firm located in Silicon
Valley. The firm has been building successful technology companies since
1976, funding over 300 startups. Bay leverages the operating background of
its partners and its extensive network of executives and advisors to help
outstanding entrepreneurs create the leaders in new high-growth market
segments. Notable successes from Bay's portfolio include Brocade, Concord
Communications, Digital Island, Exodus, Sonicwall, Placeware, Informatica,
Web Logic (BEA) and NetScaler. Bay has over $1 billion under management.
For more information, visit www.baypartners.com.
About W Media Ventures
W Media Ventures is a Vancouver-based venture capital firm focusing on
Consumer Internet opportunities in the Pacific Northwest and Western
Canada. Together with long-term partner Burda Digital Ventures / Acton
Capital Partners, W Media Ventures looks for entrepreneurs that want to
build remarkable companies in the fields of digital media,
e-commerce, social networks or platforms. The firm was founded by Boris
Wertz in 2007.
Contact:
Jeff Pecor
Yapta, Inc.
206-625-2301
Email Contact
