SEATFROG STARTUP UPGRADES THE TRAVEL EXPERIENCE

Written on the 31 May 2016 by Sydney Business News

SEATFROG STARTUP UPGRADES THE TRAVEL EXPERIENCE SYDNEY travel startup Seatfrog, already backed by industry veterans, is at the centre of a London-led seed funding round.

London venture capital firm HOWZAT Partners - the investment team behind travel compatriot Trivago - will lead a AU$1.2 million seed funding round for live bidding platform Seatfrog.

The startup unlocks revenue opportunities for airlines by auctioning premium seats - guaranteed to fly empty - right up until the time of departure, unlike any other upgrade technology in the market.

Seatfrog is the only mobile platform enabling airlines to extend upgrades this close to take-off, with new boarding passes issued direct to the passenger's mobile for scanning at the departure gate.

Launching globally this year, the Australian startup has already attracted the likes of former Qantas International CEO, Simon Hickey, as an advisor. Hickey says Seatfrog is 'undeniably ahead of the curve'.

The AU$1.2 million cash injection will bolster Seatfrog's team, recruiting more talent in data science to support the company's accelerated growth.

"Every year, millions of premium class seats fly empty across the globe, representing billions of dollars in unrealised revenue opportunity," says Iain Griffin, CEO and co-founder of Seatfrog.

"For airlines, ancillaries are currently estimated to be worth around US$60 billion. Seatfrog's technology dramatically broadens the scope of this market opportunity by making upgrades seamless for passengers and maximising efficiency and profit for airlines.

"Our technology brings a mobile solution to market designed for the passengers of today. It keeps in mind the airlines' continual need to evolve their ancillary strategies through intelligent use of data, and the passengers' need for an intuitive, mobile-first platform that fits with their busy lives and takes the pain and confusion out of upgrading.

"Without question, Seatfrog is the platform that the industry has been waiting for to improve the upgrade experience. Airline ancillary revenue strategies are fragmented and there is a lot of untapped potential, particularly in relation to the same-day upgrade process."

The technology ensures airlines can close off sales and award frequent flyer upgrades first, before any remaining premium seats are opened up for passenger bidding right up to the gate.

Seatfrog has an advisory board of industry heavyweights including leading aviation lawyer Richard Davis, fintech entrepreneur Mike Aston and the executive team at HOWZAT Partners, comprising former Cheapflights CEO David Soskin, Hugo Burge and Sascha Hausmann.

The startup is currently in private beta mode and launches this year.


Author: Sydney Business News Connect via: Twitter

Latest News

SLATER & GORDON AND MAURICE BLACKBURN SHOWDOWN IN BELLAMY'S CLASS ACTION

FIERCE rivals Slater & Gordon (ASX: SGH) and Maurice Blackburn have secured funding for class actions against Bel...

WHY VIDEO IS A "GIVEN" FOR BUSINESS

IN TODAY's digital-driven world, video is king and if used right, it can push a company's brand and brand ...

BRAMBLES TUMBLES AFTER REDUCING GUIDANCE

BRAMBLES (ASX: BXB) will miss its first-half guidance due to cost pressures at its North America business.

The com...

VILLAGE ROADSHOW PARKS HURT BY DREAMWORLD TRAGEDY

QUEENSLAND visitors to Village Roadshow (ASX: VRL) theme parks have declined 12 per cent in the wake of four deaths a...

Related News

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal i...

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter