Online travel search company Evature has raised $2 million from Concur Technologies Inc.'s (Nasdaq: CNQR) $150 million Concur Perfect Trip Fund.
Headquartered in Ramat Gan, Evature enables natural-language travel search for mobile and regular websites, social networks and applications, increasing conversion rates and user satisfaction. Evature's web service is based on innovative Natural Language Processing algorithms, specifically designed for "travel language," delivering a never before possible user experience.
Evature has developed the Expert Virtual Agent (EVA) which provides natural-language search capabilities for online travel. The winner of PhoCusWright's 2011 Travel Innovation Summit DEMO Award for the most game-changing travel innovation, EVA is a B2B service based on natural-language processing algorithms that are specifically designed for travel, enabling travel companies to offer their customers the ability to more easily search for travel.
Evature CEO and co-founder Barry Volinskey said, "The investment by Concur represents a major vote of confidence in Evature's vision and further validation of our technology. EVA enables travelers to experience an easier and more intuitive way to search, book and manage travel. Leveraging Concur's leadership, we look forward to delivering new and exciting EVA based products and services to corporate travelers around the world."
Concur chairman and CEO Steve Singh said, "Concur's vision for The Perfect Trip is built on creating a travel ecosystem that dynamically responds to the needs of business travelers, the companies that they work for and the suppliers that serve them. Entrepreneurs like Evature are developing the next set of innovations that will help drive the state-of-the-art in our industry, ultimately delivering a better travel experience. Through the power of the Concur T&E Cloud, we're bringing the best of these innovations together to revolutionize business travel and deliver greater value to corporate clients, suppliers and travelers alike."
Published by Globes [online], Israel business news - www.globes-online.com - on November 12, 2012
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