Gerbera invests in ID90T
Mexico City, June 10, 2013. - Gerbera Capital and Mexico Ventures, with participation from existing investors Baroda Ventures and Thayer Ventures led the closing of a Series B financing round in ID90T, a company that provides airlines a SaaS platform to automate airline employee travel programs across the globe.
ID90T's clients include airlines such as Aeroflot Airlines, Alaska Airlines, Frontier Airlines, Hawaiian Airlines, Spirit Airlines and United Airlines, among others. In addition to airline ticketing, ID90T also offers tailored-to-airline-employee discounts on hotels, car rentals and travel insurance- all on the same one-stop-shop platform. ID90T will utilize its funding to expand its suite of products and services, increase sales and marketing activity and enhance its corporate positioning and marketplace presence.
ID90T's CEO Mike Stacy said, "We bring airlines innovative solutions that decrease the cost of every aspect of airline employee space-available travel, while at the same time providing significant travel benefits for their employees. The response continues to be extremely positive for our products, and for our vision for the future." He concluded, "We are grateful to our clients for their support, and to all investors and advisors. We look forward to a year of dynamic growth and innovation with several new products planned for release in 2013."
Alonso Diaz Etienne, Managing Partner at Gerbera Capital, said, "The application of automated solutions to airline employee travel is an opportunity whose time has come and we are excited to be working with ID90T to achieve its full potential and, at the same time, help to grow the Mexican tourism industry. In bringing together investors from the United States and Mexico, ID90T has created a solid foundation to build the Company and serve the global airline industry."
ID90T provides airlines around the globe a SaaS platform that automates and reduces costs associated with airline employee travel programs. It is a one-stop solution for airlines' employee travel needs: ID90T provides online ticketing for employees to fly for leisure or company business on multiple carriers and technology that allows airline employees to list on other airlines' flights. In addition, ID90T is the first company in the global airline industry to provide employee pass travel programs with the ability to seamlessly book discounted hotels and rental cars, and purchase trip insurance policies tailored to the needs of non-revenue travelers. For more information, visit www.id90t.com
About Gerbera Capital
Gerbera Capital is a Mexico based Fund and Asset Manager that is strengthening the private equity and venture capital industries in Mexico and developing additional ways to support the creation of businesses, jobs and wealth in Mexico and the United States by working with talented entrepreneurs and funding innovative companies. Gerbera is an active member of AMEXCAP.
About Mexico Ventures
Mexico Ventures is a fund created to invest in leading innovation and entrepreneurial capital funds and direct co-investment opportunities within Mexico or with strong ties to Mexico. The goal of the Fund is substantial long-term capital appreciation for its limited partners with an anticipated derivative effect of expanding the quality and quantity of professional fund managers in Mexico.
About Baroda Ventures
Baroda Ventures is a Los Angeles based venture capital firm founded by philanthropist and technology entrepreneur David Bohnett, the founder of GeoCities. Baroda Ventures is focused on seed stage investments in consumer internet, e-commerce, SaaS, mobile, and digital media. In addition to ID90T, other investments include, Fab.com Steelhouse, GraphEffect, and Pocket Change.
About Thayer Ventures
Thayer Ventures is the only venture capital firm specifically focused on the hospitality industry. Since its founding in 2009 as Quest Hospitality Ventures, the firm has partnered with entrepreneurs to create, develop and build technology companies that will revolutionize the hospitality industry. Based in San Francisco, Thayer Ventures currently supports some of the world's leading travel technology companies, including Hipmunk, hotelme.com, Nor1, Adara Media, Duetto Research, newBrandAnalytics, and ID90T. Additional information is available on the company's website: www.thayerventures.com