Blockchain technology provider Blockskye, a PhocusWire Hot 25 Travel Startup for 2024, has raised $15.8 million. The company offers an end-to-end solution for corporate travel management in partnership with Kayak.
The funding round was led by Blockchange, with participation from United Airlines Ventures, Litquidity Ventures, Lightspeed Faction, Lasagna, Longbrook Ventures, KSV Global and TFJ Capital.
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The funding brings Blockskye’s total funding raised to $33 million.
The latest investment will be used to "accelerate Blockskye’s momentum" in serving its clients and suppliers. Specifically, Blockskye said it will use the capital to launch payment products, expand its technology, scale its internal team and expand globally.
"Corporate travel represents one of the last elements of enterprise operations still relying on outdated, intermediary-heavy infrastructure that lacks basic trust and transparency," said Brook Armstrong, co-founder and co-CEO of Blockskye.
"This funding will enable us to continue building a platform that delivers the direct supplier connections, real-time reconciliation and financial transparency that modern enterprises demand—finally bringing corporate travel management into the digital age."
Blockskye aims to replace intermediary-dependent legacy technology stacks with blockchain-based infrastructure. It automates booking, payments and expense reporting through products called BMAX and B360, both introduced earlier this year. Blockskye counts TripAdvisor, PwC and Diageo among its clients.
The company was preparing for transformation in October 2024, as it said it was being selective about taking on new clients. Last June, Blockskye also announced leadership updates.