Reservation know-how firm Kaptio receives $2.5M for growth

Reservation know-how firm Kaptio has acquired new funding because it appears to be like to increase operations globally. 

Development fairness fund VEX has acquired a 70% stake within the Iceland-based firm, however monetary phrases of the deal weren’t disclosed. The corporate has additionally raised $2.5 million from personal buyers and TM Insurance coverage and mentioned it’s making ready for added funding rounds sooner or later.

“Kaptio has developed an impressive know-how platform for the multi-day journey business, and we’ve laid the muse for continued innovation to fulfill the rising calls for of the market,” mentioned Viðar Svansson, CEO of Kaptio.

“We’re grateful for the assist of our departing shareholders, and we stay up for collaborating with our new companions, who carry a wealth of expertise in constructing and supporting firms like ours.”

The funding marks Kaptio’s first funding for the reason that pandemic. It plans to make use of the monetary assist for product growth, gross sales and advertising, cloud operations and to fund new innovation applications with purchasers.

“The workforce at Kaptio has succeeded in making a market-leading product in an thrilling and dynamic sector. We’re getting into at what we consider is just the start of their development journey,” mentioned Benedikt Ólafsson, a companion at VEX. “As anchor buyers, we’re totally dedicated to supporting the administration’s imaginative and prescient.”

Based in 2012, Kaptio works to offer companies to worldwide enterprise journey operators and sellers ranging in sectors from cruise to rail to group journey with a give attention to multi-day journey journeys.

Svansson mentioned Kaptio’s focus is on “innovation-ready” purchasers with which the corporate can align its roadmap. And there is extra to come back.

“Our Kaptio Journey Platform is just the start; we launched our newest product, Kaptio Pay, final yr and are growing new merchandise and know-how partnerships to increase additional into digital distribution of multi-day journey by means of B2C, B2B and B2B2C, and our ecosystem of multi-day journey manufacturers and business companions,” Svansson mentioned.

The reservation know-how has a presence in the UK, Australia, Europe and Canada. Current successes embrace a partnership with Braintree, a Paypal firm; additionally it is serving to Intrepid Journey with its digital transformation.

“Kaptio has seen exceptional development over the previous yr, each in increasing our workforce and rising our buyer base,” mentioned Ragnar Fjölnisson, co-founder and chief innovation officer at Kaptio. “As we proceed to innovate on the forefront of journey and know-how, we’re dedicated to driving much more development within the coming yr—welcoming new expertise, strengthening partnerships, and reaching new milestones.”