Israeli startup FairFly lands major deal with travel giant BCD
Israeli startup FairFly lands major deal with travel giant BCD
The deal will see BCD integrate FairFly’s tech and is estimated at $10-$15 million per year for 5-10 years
Global travel company, BCD Travel, will be integrating Israeli startup FairFly’s technology in its systems. According to sources in the aviation market, the deal is estimated at $10-$15 million per year for 5-10 years.
FairFly's technology enables significant savings on airline ticket prices for agency customers. FairFly's Air Price Assurance technology predicts changes in airline ticket prices after they have been ordered, and following a significant price drop re-orders the same airline ticket automatically.
From the moment a plane ticket is ordered by one of the company's customers, the system goes into action and automatically monitors prices until the moment of departure. As soon as a price drop is found, the system replaces the ticket with an identical ticket, in the same seat and at a cheaper price. This saves companies millions of dollars a year, with the system generating savings of up to 4.8% of the corporate flight budget.
FairFly was founded in 2014 by Aviel Siman-Tov, Ami Goldenberg and Gili Lichtman as part of the Zell program for entrepreneurship at Reichman University in Herzliya. The company has raised $11 million to date, employs 29 people and has offices in Israel, U.S., England and Poland.
The global travel agency BCD Group was founded in 1975 by John Fentener van Vlissingen and consists of BCD Travel: a global corporate travel management company that accounts for 15% of the global corporate travel market and its subsidiary agency BCD Meetings & Events. They also operate an off site parking agency for airports and a consulting agency.
