Comtravo, a Berlin-based platform for business travel bookings, just raised additional €21 million in venture capital. The round is led by Endeit Capital and joined by new investors Deutsche Bank, AER Ticket, the largest seller of air travel tickets in Europe, as well as Jan Valentin, the former Head of Europe at Kayak. The existing investors Project A, Creandum and btov also participated in the funding round.
Founded in 2015, Comtravo’s software translates text-based requests like emails into structured data and uses AI technologies to offer the best travel options based on saved preferences and previous booking patterns. Personalized offers can be booked from an email with just one click. Comtravo was founded by Michael Riegel, Jannik Neumann, Marko Schilde and an experienced team of the travel and internet industry. Comtravo now has 110 employees. More than 700 medium-sized businesses in the DACH region use Comtravo.
Michael Riegel, founder and CEO of Comtravo, stated: “The German business travel market is huge – €52.5 billion. But it’s also very fragmented and shaped by tedious and inefficient processes. With Comtravo, we want to radically simplify the management of business travel. Since founding the company in 2015, we have managed to automate 60% of the processes by using technology, and we enjoy popularity from our customers and the continued support from our investors.”
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