Travel and expense management company Concur, which earlier this year acquired TripIt and GlobalExchange, has invested $5 million in Yapta, a provider of airfare and hotel rate tracking services. The investment brings the total of capital raised by Yapta to $13.8 million.
As part of the investment agreement, Concur and Yapta have entered into a partnership under which Concur will exclusively use Yapta’s airfare price tracking and price assurance services for its TripIt Pro users. The parties also plan to explore additional opportunities for integrating Yapta’s services with Concur’s travel and expense management solutions.
According to the press release, Yapta’s technology has conducted more than a billion price checks on millions of flights, revealing more than $350 million in savings for travelers.
Yapta is a travel Website and browser add-on that lets you track flight prices as they change and alerts you when the price for a particular flight drops. It also helps you get a refund or credit from airlines with guaranteed low-price policies.
Concur Technologies, Inc. (Concur) is a global provider of on-demand Employee Spend Management solutions. The Company’s software solutions enable organizations to control costs by automating the processes used to manage employee spending. Its solutions unite online travel procurement with automated expense reporting and optimize the process of collecting, submitting, tracking and paying supplier invoices and check requests. Its provides its customers with visibility into their employee spending, which helps to analyze trends, influence budget decisions, and monitor and enforce...
TripIt is an intelligent travel organizer that helps travelers manage their plans so that their trips go more smoothly. Travelers simply forward their purchase confirmation emails to TripIt and TripIt automatically creates master itineraries with travel plans and other critical information. With TripIt, it’s easy for travelers to print or access their trip plans from anywhere–and to share itineraries and travel calendars with friends in their TripIt network.