Flyr nets $3.7M in funding, will add fare forecasting to CheapOair
Today, FLYR, a technology startup in San Francisco that predicts airfare and seat availability, said it had closed its seed financing round of $3.7 million.
The round was led by Streamlined Ventures and Montage Ventures. Montage has previously invested in Olset, a hotel booking startup.
Western Technology Investment and some angel investors also participated in the round.
The funding is separate from the $500,000 poured in to Flyr’s international division last January by the investment arm of insurance giant AXA.
In related news, Flyr’s products are being integrated with New York-based Fareportal‘s online travel agencies, including CheapoAir.
Up until now, consumers have not yet been able to purchase products based on Flyr’s fare prediction and seat availability forecasts.
Alex Mans, cofounder and CTO, told Tnooz that on April 3rd, Flyr will release its web application for consumers, which features flight-specific airfare forecasts, predictive fare alerts (“Buy now because your fare will go up by $30 tomorrow”), and fare protection options (“Lock in today’s fare for a week.”)
Mans adds that his company has also made its airfare prediction API available to anyone, at up to 25,000 free API calls a month.
The company whose product most overlaps with Flyr’s solutions is Options Away, a Chicago startup that lets consumers lock in airfares as a hedge against airline price hikes. It locked in $3.5 million of fresh funding in March.
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