Travel technology company DerbySoft has acquired Arise, an artificial intelligence-powered platform helping travel advisors improve communications with suppliers and reconcile hotel commissions, as exclusively shared with PhocusWire.
Arise, a PhocusWire Hot 25 Startup for 2019, launched in 2017 as a blockchain-based solution for hotel distribution and reservations. The company pivoted in 2023, despite some implementations, because of the challenges related to wider adoption of blockchain technology.
“We shifted focus to AI-driven solutions that the industry could immediately adopt. Leveraging our deep understanding of hotel-distributor workflows, Arise identified key areas where AI could streamline booking management and B2B processes, driving greater efficiency and automation,” said Nadim El Manawy, co-founder and CEO of Arise.
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Terms of the acquisition were not disclosed but DerbySoft said in a statement the deal supports its strategy around streamlining and automating elements of the supplier-distribution relationship in business travel.
“By unifying booking data into a single record, Arise enhances visibility, optimizes workflows and reduces reliance on third-party services,” the statement said.
The technology helps speed up payment processing and aims to ensure a more efficient and transparent process.
“DerbySoft anticipates the needs of the travel industry and delivers innovative, highperformance solutions for our clients,” said Duane Overgaard, divisional CEO for hospitality at DerbySoft. “Integrating Arise’s technology into our platform further strengthens our commitment to business travel by providing accuracy and efficiency in commission reconciliation, as well as robust communication tools between travel agents and hotels.”
Manawy becomes head of business travel solutions at DerbySoft and said the acquisition enable them to help travel management companies and hotel partners drive efficiency and work together more effectively.
"Together, we will continue driving innovation that simplifies operations, enhances traveler experiences and maximizes profitability for our clients and their customers,” Manawy said.
This is DerbySoft's second acquisition in just under year after the company announced that it had acquired B2B travel marketplace PKFare last April.
"These acquisitions will allow DerbySoft to continue expanding product offerings and extending customer reach into other travel industry segments with these acquisitions," Overgaard said.
He also said the company had no "active" acquisition plans in the pipeline but that anything going forward would also be in the B2B technology space.