Israeli travel SaaS platform Gett has raised an additional $15 million from new investor Pelham Capital existing investors as an extension of the $100 million round announced in June 2020.
Best known as a taxi hailing app, Gett is now also focusing on the B2B corporate market and will use the new funds to roll-out its ground travel software platform for businesses worldwide. The proceeds will be used to further accelerate the development of the SaaS platform and the company's global expansion.
Gett says it brings together the fragmented world of ride-hailing companies and corporate fleets on one platform, optimizing clients' corporate ground travel needs, from booking and riding to invoicing and analytics, saving companies both time and money while increasing employee satisfaction.
Gett CEO Dave Waiser said, "We are on a journey to transform corporate ground travel and I'm delighted that investors find our model attractive. This investment will allow us to further develop our SaaS technology and deepen our proposition within the corporate ground travel market. It has been an incredibly difficult period for the travel sector but we are pleased to have finished 2020 operationally profitable and on budget." Gett Chairman Amos Genish added, "This funding round was oversubscribed, which shows the market's interest in our platform and long term vision. Gett is disrupting and transforming a fragmented market delivering ever-critical cost optimisation and client satisfaction.
He continued, "There are clear parallels between Gett and GDS companies like Amadeus or Sabre Group, which improved travel booking experience in the highly fragmented air travel sector twenty years ago; and Booking.com, which transformed the hotel industry's supply market. Gett is following the same, proven business model to solve fragmented supply in ground transportation for Corporates."
Published by Globes, Israel business news - en.globes.co.il - on January 13, 2021
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