Yapta raises $2.7 million to develop new airfare tracking features |
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Yapta raises $2.7 million to develop new airfare tracking features
Yapta, a Seattle startup that helps people track airfare prices to find bargains, has scored $2.7 million in new funding.
CEO Tom Romary declined to provide details or name investors, saying the round hasn't closed yet. But he said Yapta would use the new funds to continue to develop new features.
"We'll continue to be pretty aggressive on innovating features that are relevant to people in the travel space," Romary said.
Last month, Yapta rolled out a frequent-flier award seat alert service, letting users know when they can use frequent flier miles to book an award seat that opens up on a specific flight.
Romary, a veteran of Alaska Airlines and RealNetworks, said Yapta has over half a million users now, and is poised for more growth as consumers and small businesses look for ways to cut their travel expenses.
"If you're helping people to get more value out of the dollars, out of their travel spending, then you're probably positioned pretty well," he said.
News of the funding comes shortly after Yapta laid off 4 workers, leaving it with just a dozen staff.
Yapta was founded in January 2006. Last year, the company raised $2.3 million in venture capital from First Round Capital, Voyager Capital, Swiftsure Capital and Bay Partners.
The company sends email alerts to users when airfare prices drop or fall below a particular price target. It also helps users take advantage of airline policies to obtain travel credits when prices decrease on already purchased tickets.
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