SION, an Oceanport, NJ-based SaaS platform that manages commission payments for travel advisors and agencies, announced that it raised $3.2 million in seed funding.
The round was led by TIA Ventures with participation from SmartFlyer and Virtuoso to advance its promotion of a more robust and open travel tech ecosystem.
SION will use the funding to accelerate product development and create automated commission chasing, ramp up integrations, and launch a new payment processing system.
This will further instill SION as a robust resource for travel advisors to support their growing businesses, improve organization and payment processing, and increase profitability.
“This funding milestone enables us to double down on our vision to help travel advisors get total visibility across their entire business, and most importantly, get paid,” said Alfons Musry, COO and co-founder of SION. “It not only helps to further our commitment to evolve the antiquated ways of the travel agency industry, but it helps speed up our plans to bring more tools and capabilities to the platform and grow our community of users. We’re excited for what the future holds at SION, especially with the travel industry making such strides since the pandemic.”
SION has revolutionized the way travel advisors work with the simplest way to track and manage travel commissions. Its software platform brings efficiency, accountability, and transparency to travel advisors and agencies. Once a travel booking is made, SION automates all the core elements, including the payment status, commission split, supplier invoicing, and interactive real-time reporting.
With more than 1,500 agents subscribed to the platform, SION is currently managing approximately $2.2 billion in booking revenue.
Company: SION Inc.
Round: Seed Round
Funding Month: December 2022
Lead Investors: TIA Ventures
Additional Investors: SmartFlyer and Virtuoso
Company Website: https://sioncentral.com/
Software Category: Commission Management Software
About the Company: SION is a global technology company serving the needs of the travel advisor industry. It provides commission management software for travel agents. It exists to make travel advisors’ lives easier through its powerfully simple software. SION’s first-of-its-kind streamlined interface, advanced features, and game-changing automation eliminate the headache of commission tracking and payment reconciliations experienced by travel advisors the world over. In 2019, SION graduated from the prestigious Virtuoso Travel Incubator program and also partnered with such travel heavyweights as Sabre, Amadeus, and IATA. Its mission is to make travel agents’ lives easier through our powerfully simple software.