Airline Software Startup Flyr Buys Pace Revenue to Expand Into Serving Hotels
Photo Caption: The interior of the Placemakr Premier SoBro, an apartment complex in Nashville, Tennessee, owned by the startup Placemakr, which has been a customer of Pace Revenue.. Source: Placemakr.
Skift Take
It's unexpected that Flyr would go after the hospitality business, given that it still has a lot of airlines yet to win over to its revenue management services. But this acquisition is a sign of how all verticals in travel will be impacted by techniques for running operations based on data science.
FLYR Labs, an LA-based startup that sells revenue optimization software to airlines, said on Tuesday it had acquired Pace Revenue, the UK-based seller of rate-setting tools for hotels and lodging companies.
The companies didn't disclose the terms of the transaction.
Flyr Labs has raised more than $150 million in funding from investors including JetBlue Airways’ corporate venture arm JetBlue Technology Ventures. Pace had raised about $5 million in funding, according to Crunchbase, from investors such as InterGlobe, the group behind India’s largest airline IndiGo, as well as Seedcamp, Speedinvest, and Amadeus Capital Partners.
Until now, Flyr Labs had focused on airlines as target customers. It has focused on helping airline commercial teams make the most of their data and supply-and-demand patterns for coordinated efforts at selling fares and other upsells at optimal prices. Flyr Labs said it will begin offering si
