(Press Release) Gerbera Capital and Mexico Ventures, with participation from existing investors Baroda Ventures and Thayer Ventures led the closing of a Series B financing round in ID90T, a company that provides airlines a SaaS platform to automate airline employee travel programs across the globe.
ID90T’s clients include airlines such as Aeroflot Airlines, Alaska Airlines, Frontier Airlines, Hawaiian Airlines, Spirit Airlines and United Airlines, among others. In addition to airline ticketing, ID90T also offers tailored-to-airline-employee discounts on hotels, car rentals and travel insurance—all on the same one-stop-shop platform. ID90T will utilize its funding to expand its suite of products and services, increase sales and marketing activity and enhance its corporate positioning and marketplace presence.
ID90T’s CEO Mike Stacy said, “We bring airlines innovative solutions that decrease the cost of every aspect of airline employee space-available travel, while at the same time providing significant travel benefits for their employees. The response continues to be extremely positive for our products, and for our vision for the future.” He concluded, “We are grateful to our clients for their support, and to all investors and advisors. We look forward to a year of dynamic growth and innovation with several new products planned for release in 2013.”
Alonso Diaz Etienne, Managing Partner at Gerbera Capital, said, “The application of automated solutions to airline employee travel is an opportunity whose time has come and we are excited to be working with ID90T to achieve its full potential and, at the same time, help to grow the Mexican tourism industry. In bringing together investors from the United States and Mexico, ID90T has created a solid foundation to build the Company and serve the global airline industry.”
About ID90T
ID90T provides airlines around the globe a SaaS platform that automates and reduces costs associated with airline employee travel programs. It is a one-stop solution for airlines’ employee travel needs: ID90T provides online ticketing for employees to fly for leisure or company business on multiple carriers and technology that allows airline employees to list on other airlines’ flights. In addition, ID90T is the first company in the global airline industry to provide employee pass travel programs with the ability to seamlessly book discounted hotels and rental cars, and purchase trip insurance policies tailored to the needs of non-revenue travelers. For more information, visit www.id90t.com.