Betterez Inc, a Toronto reservations and ticketing management platform, has raised an undisclosed seed financing. The round was led by Amadeus Ventures, the venture fund of Spanish travel and tourism technology company Amadeus IT Group. Donald Carty, former chairman and CEO of American Airlines Inc, also invested. Founded in 2011 by CEO Tal Shalit, Betterez said the number of travel and tour companies using its software more than doubled in 2016, while processed volume grew over 400 percent. It plans to use the funds raised to build out sales, distribution, operations and back-office features and capabilities.
Betterez closes strategic investment by Amadeus Ventures
Betterez announces that Amadeus Ventures, the travel venture fund of Amadeus IT Group, has made a strategic investment in Betterez
TORONTO, CANADA, March 8, 2017 /EINPresswire.com/ — Betterez Inc., a Reservations & Ticketing Management (RTM) technology platform, announces that Amadeus Ventures, the travel venture fund of Amadeus IT Group, has made a strategic investment in Betterez. The investment will allow Betterez to further build out the sales, distribution, operations and back office features and capabilities needed to help bus & coach operators compete and thrive in today’s multi-modal transportation marketplace. Mr. Donald J. Carty, former chairman and CEO of American Airlines also participated in this round and will join the Betterez Board of Directors. Terms of the deal are not currently disclosed.
The Seed funding announcement follows an exceptional 2016 for the company. The number of Ground Travel and Tour companies using the Betterez Software-as-a-Service more than doubled, with processed volume growing by over 400%.
“Over the past five plus years, Betterez has been fortunate to build a strong business serving ground travel operators, namely inter-city bus and airport shuttles. Betterez is a true enterprise system helping operators manage their sales and distribution channels, operations, inventory, pricing, scanning, back office business requirements, and much more. We want to continue to innovate in these areas at the travel operator level to help bus companies compete and grow by selling more and selling more easily” said Tal Shalit Founder & CEO of Betterez. “This investment will allow us to help bus & coach operators get to the next level of growth and innovation.”
“Amadeus Ventures aims to invest in travel technology start-ups with brilliant ideas and modern technological platforms that can not only drive strategic value but help shape the future of travel,” said Head of Amadeus Ventures Suzanna Chiu. “Betterez’ innovative proposition for ground travel operators, including bus & coach inventory, make them a perfect match for us, and we look forward to helping them grow and further improve the ground travel experience.”
The Amadeus Ventures investment is a significant milestone for Betterez and for its customers. Determined to be the most modern, flexible and cost efficient reservation and ticketing platform available in the market, Betterez is looking forward to adding new features, customers, and partners in 2017.
About Betterez: Betterez, founded in 2011 is a next generation Reservations & Ticketing Management (RTM) technology company focused on helping Motorcoach and Tour Operators grow their businesses, and run operations and finance more efficiently. www.betterez.com
About Mr. Donald J. Carty: Donald J. Carty is a businessman and investor with significant Travel and Technology experience and leadership. Mr. Carty currently serves on the Boards of Porter Airlines, Hawaiian Airlines and Canadian National Railway Company. Mr. Carty is the retired Vice Chairman and Chief Financial Officer of Dell, Inc., a position he assumed in January 2007. Before joining Dell, Mr. Carty retired in 2003 as the Chairman and Chief Executive Officer of AMR Corporation and American Airlines. He had served in that position since 1998. Prior to that, he served as President of AMR Airline Group and American Airlines. Wikipedia/Donald.J.Carty
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