Following annualized recurring revenue growth of 290 percent, FLYR has raised additional capital led by WestCap to accelerate product development and delivery Customers including Avianca, JetBlue, Air New Zealand, Virgin Atlantic, Best Western Scandinavia, and The Boca Raton are using FLYR to manage vast amounts of data, interconnect hundreds of systems, and deliver a better digital experience SAN FRANCISCO, Aug. 08, 2024 (GLOBE NEWSWIRE) -- FLYR, the technology company that unlocks freedom to innovate for the travel industry, today announced a $295 million capital raise to accelerate the delivery of modern reservation systems, elevate digital channels, and enable AI-based decision automation for the world's largest airlines and hospitality brands. The funding round was led by WestCap and included investments from BlackRock, Streamlined Ventures, and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). FLYR has raised $225 million in Series D capital and received an additional $70 million in credit led by Vista Credit Partners to scale its product offerings around the globe. Notably, long-time customer and one of the largest airlines in South America, Avianca also participated in the latest Series D capital raise. Now, with over $500M raised to-date, FLYR has become one of the best-funded travel technology companies in history to address the archaic technology constraints that plague the multi-trillion-dollar travel industry. The World Travel & Tourism Council predicts the travel industry will make up nearly 12 percent of global GDP in the next decade, soaring 50 percent by 2032. Yet, as the rest of the world embraces artificial intelligence (AI) and new retail experiences powered by the cloud, the travel sector lags behind, often reliant on legacy technology that cannot meet travelers' demand for a seamless customer experience. Unlock freedom to innovateNatively ...