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A DUBLIN STARTUP that helps streamline travel bookings has raised $12 million as it more than doubles its staff and chases more international business.
Boxever helps companies in the travel industry tweak their online offerings, adding analytics and other features that enable providers to personalise their sites and apps for customers.
Since launching in 2011, it has secured high-profile clients that include Aer Lingus and several other major airlines, as well as online booking portals like eDreams.
The $12 million (€11 million) in funding came from existing investors like US-based Polaris Partners and Dublin’s Frontline Ventures, as well as a loan from Silicon Valley Bank.
According to Boxever’s most-recent accounts, which run to the end of December 2014, the startup had accumulated losses of €3.2 million – up from €1.15 million a year earlier – amid its expansion drive.
The company plans to hire 100 extra staff, mainly data and software experts, over the next year, more than doubling its current workforce of around 60. It previously raised $10 million in its earlier funding rounds.
Boxever will also add to its global sales and customer service teams as the company continues to target major overseas clients. It already operates in five continents with a second office in Boston, alongside its Irish base.
CEO and co-founder Dave O’Flanagan said tourists “crave personalised, highly-relevant experiences” from when they started searching until they reached their destinations.
The market potential to help the travel industry make this experience a reality is substantial, and our investors are enabling us to lead the way,” he said.
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Great to see companies like Boxever coming from Ireland and growing successfully. Shows the hugh potential we have for home-grown high tech startups.
Great to see, best of luck lads
Good on ye lads. All the best
Well done boxever.
Congratulations to the whole team at Boxevever and continued success!
Well done. They have very clever products. I wish them even more success
Good luck to all with this excellent venture
Where’s Wally? This is a disgrace.. Just look at how many people they’re planning to exploit!
Does it not say the company had accumulated losses in the millions year on year ?
Many start-ups make losses in early years.
Yes – but for companies like this, that is to be expected in the early stages where they are spending more than they make on expansion costs.
This approach means they are sourcing funding thru loans more than thru selling equity – thereby retaining a bigger share of the firm and it’s spoils later on.
Ignore. The LLA don’t understand business.
‘Amid it’s expansion drive’ – gotta break a few eggs to make an omelette! But you sound more of a lemon fan.
Great story to read this morning. Good luck to them. Top work.
So this product will make it even easier for companies to track what people are looking for and raise the prices as soon as they notice the volume of interest. I mean airlines do that already but now it’s in cloud form. Oh and it also seems to make it so much easier to track people down from their internet choices and ”retain” the customer even if they left the service already. Yay its an Irish company though… who do the exact same as everyone else and use the same ruthless business tactics.
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