AllFly, a travel technology startup based in Orlando, Florida, announced it has secured $2.4 million in funding to expand product offerings in the corporate meetings and events space.
The new investment was led by Lightbank with participation from Corazon Capital.
AllFly, formerly known as Bacarai and one of PhocusWire’s Hot 25 Startups for 2020, offers a suite of products designed to help tour operators, meeting planners and businesses plan, book and manage group travel for team offsites, meetings and incentive trips.
With over 20 years of experience in the group travel market, AllFly CEO Eric Peterson recognized the need to reduce the complexity of purchasing and managing group contracts from airlines.
“For millions of group customers, buying and managing group air travel is really hard,” he said. “Whether it’s waiting on the phone for a group quote from the airlines or having a company of 70 people book individual flights to Cancun, there is so much of the process that happens offline.”
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Bill Pescatello of Lightbank has joined the AllFly board. “At Lightbank, our focus is on identifying companies that have the potential to transform large underserved markets, and AllFly is a great example,” he said. “With its innovative approach, AllFly has quickly become a go-to choice for group travel and corporate partners in this vast ecosystem.”
In 2020, the company developed a new application programming interface (API) service that connected COVID-19 statistics to airport codes and hotel locations so that airlines, hotels and online travel agencies could display the data within their shopping workflows. Last fall, the company launched the AllFly Marketplace, which allows group travel planners to search and book airline group contracts online.