Online travel agency Travelshift has raised $10 million in fresh funding from its existing shareholders.
The investment in the Iceland-based OTA, which was founded in 2012, comes from GE Investment Management Co. and brings the company’s total to date to $30 million.
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The funding will go towards further growth and building “the next generation of travel through innovative use and application of [artificial intelligence] to deliver personalized and seamless travel experiences,” said CEO David Stewart.
Stewart joined Travelshift just over a year ago from a previous role in private equity.
Harshal Chaudhari, president and chief investment officer at GE Investment Management Co., said: “We are proud to continue supporting Travelshift’s remarkable journey. The company’s unwavering commitment to innovation and customer satisfaction has been instrumental in its success, and we firmly believe in its potential to further disrupt the leisure travel industry.”
The funding follows Travelshift's launch of Guide to Europe, an AI-powered marketplace for European leisure travel.