Deal Engine, a Miami, Florida-based AI-enabled platform that automates airline ticket refunds and changes, announced it raised $5.3 million in seed funding to simplify transactions and post-booking operations for travel companies.
The round was led by F-Prime Capital, with participation from Thayer Ventures, PAR Capital Management, Plug, and Play, as well as several prominent angel investors.
The funding will be used to expand globally and accelerate engineering, product, and sales.
"We built Deal Engine to simplify travel transactions. Historically, travel companies needed to hire armies of people to manually calculate and process ticket refunds, creating inefficient and costly experiences for both companies and their travelers," said Alex Jara, CEO of Deal Engine. "Today, we monitor over 60 million tickets annually, representing $15 billion dollars in ticket bookings. Deal Engine's technology enables travel companies to simplify complex manual processes, saving millions of human hours each year."
A request through Deal Engine's easy-to-use dashboard or API prompts its AI-enabled platform to optimally process even the most complex airline transactions from a single point.
Company: Deal Engine
Round: Seed Round
Funding Month: November 2022
Lead Investors: F-Prime Capital
Additional Investors: Thayer Ventures, PAR Capital Management, Plug and Play
Company Website: https://deal-engine.com/
Software Category: Travel Solutions Software
About the Company: Deal Engine is a travel software company. Deal Engine is on a mission to bring digital transformation to the travel industry. Utilizing proprietary AI and APIs, its algorithms bring automation to travel companies in over 30 countries. Deal Engine eliminates manual processes, and ensures people spend their time where they generate more value. Deal Engine's integrations with GDSs and settlement systems including Sabre, Amadeus, Travelport, BSPLink, and ARC automate thousands of refunds and adjustments daily, saving time and money.