Seattle-based
Gordian Software
, a
PhocusWire
Hot 25 Startup for 2022
, has raised $25 million in Series A funding at a $200
million valuation.
The funding was led by Accomplice and its sister firm
Vinyl with participation from Kinnevik, DST Global Partners and Latitude.
Founded in 2017, Gordian Software provides an API that
enables travel sites, including Hopper, Trip.com and Priceline, to sell
ancillaries such as baggage and premium seat selection for their airline
partners.
The company says it supports ancillary sales from more than 100 airlines and
experienced revenue growth of 350% in the past six months.
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“Much of the airline industry
is stuck in a technological time warp, working with outdated systems that don’t
communicate with each other,” says Stephen Grabowski, CEO of Gordian Software.
“The result is lost revenue for
airlines and their partners and an unsatisfactory and overly complicated
experience for travelers who want to customize aspects of their flight. We are
solving this problem by providing a simple, flexible platform for selecting and
purchasing add-ons and, in doing so, are on track to capture this
multi-billion-dollar market.”
Gordian says it will use the
funding to introduce new products that “address the growing diversity and
complexity of airline add-ons such as new types of insurance and fare
protection, automatic check-in, health testing, etc. as well as expansion into
new customer segments.”
The company is also looking to
triple its headcount by the end of 2022.
“While many travel companies
are trying to get back to pre-pandemic business volume, Gordian is operating at
15X its 2019 revenue,” says TJ Mahony, partner at Vinyl and new Gordian
Software board member.
“Personalization and rapid
expansion of ancillaries within travel is inevitable, and Gordian has quickly
proven to be the solution for some of the largest travel brands in the world.”
This round brings Gordian’s total funding to date to $33
million.