KAPTIO RAISES $2.6M IN VENTURE FUNDING
New capital raised to strengthen product development and international sales efforts
London, March 31, 2016 – Kaptio, the next generation booking system that places customer experience at the heart of the travel industry, announces that it has raised $2.6 million in venture funding from U.S. fund Capital A Partners and the Icelandic Frumtak II. This financing will be used to strengthen product development and sales efforts in the U.K. and internationally.
Kaptio‘s key product, Kaptio Travel has been designed to help travel agents and tour operators to quickly and easily unlock the power and possibilities of cloud technologies across their respective organizations. Powered by Salesforce, the leading provider of cloud based CRM systems, Kaptio Travel allows them to provide a customer-centric travel experience. Not only can they manage customers‘ offers and bookings more efficiently, but Kaptio Travel also helps travel agents and tour operators to structure all communication with travel resellers and suppliers.
Arnar Laufdal Olafsson, CEO of Kaptio, says: ″This funding is a vote of confidence in our vision of transforming the world of travel together with our customers and partners and is a stepping stone in becoming the “Veeva” of travel. It will allow us to bring further efficiency, simplicity and time savings to the travel industry – helping our clients in the U.K. and overseas to put customer experience at the heart of everything they do. Our solution is customer-centric and our technology will allow travel agents and tour operators to really understand and engage with their customers as individuals – to deliver a seamless and personalised experience that sets them apart from the competition. There are lots of opportunities in this space and we are excited to be playing a key role"
Eggert Claessen, CEO of Frumtak II, says: ″We specialize in businesses with high growth potential and Kaptio very much fits the bill. Its vision for a future of customer-centric travel have captured our attention as it has developed so far and we look forward to joining the team on their journey towards even greater growth.“
Tanya Marvin-Horowitz, Managing Partner at Capital A Partners, says: ″Kaptio is a great addition to our portfolio of Nordic technology companies. Its innovative vision for the travel business has driven it to open offices in the U.K., Germany and Belarus already; we think Kaptio is poised for success and are very excited to be a part of its international expansion.“
Richard Clemens, COO at Golfbreaks.com, a Kaptio Travel customer with U.S. offices in Charleston, says: “There are 30 million golfers in North America. We cannot afford to go out there and get it wrong or make mistakes. We are very confident that Kaptio is the right solution for us to move forward with on that journey.”
Salesforce.com has recently changed it strategy to drive deeper engagement within specific industries and Kaptio’s product is the only native travel booking platform built 100% on the Salesforce Platform.
Kaptio is nominated in two categories in the Nordic Startup Awards this year, for "Best Exponential Startup“ and in the category of "CTO Hero of the Year“ (Ragnar Fjölnisson). It will be presenting its product at the PhocusWright Innovation Summit Europe conference held in Dublin in May.
Kaptio was founded in 2009 by Arnar Laufdal Olafsson and Ragnar Fjölnisson. Kaptio‘s headquarters are in Kopavogur, Iceland with offices in Heidelberg, London and Minsk. Kaptio employs 16 people. Kaptio‘s key product, Kaptio Travel helps travel agencies, hotels, tour operators and conference centers to work smarter, faster and more accurate, with all crucial information readily available at their fingertips and with full automation of tedious business processes. Kaptio‘s solution is built on Salesforce’s Force.com platform, allowing users to easily manage their business in the cloud and ensuring the highest quality, scaleability and flexibility needed to adapt in the rapidly changing travel landscape.
About Frumtak II slhf.
The Icelandic Frumtak 2 Venture Fund invests in companies that possess greater possibilities for growth and expansion. The Fund was founded in 2015 and currently has six companies in its portfolio.