Fetcherr Closes $12.5M Pre-Series B in Pursuit of Revolutionizing the Airline Industry with AI-Native High-Frequency Pricing and Air Commerce
Funding will accelerate business development, market expansion, and further establish U.S. presence
TEL AVIV, ISRAEL / ACCESSWIRE / April 4, 2023 / Fetcherr, a demand prediction and AI-native algorithmic pricing optimization solution, today announces $12.5M in Pre-Series B funding led by Left Lane Capital and M-Fund. Following a $7M Series A raise in 2022, this round brings Fetcherr's total funding to $31M across equity and debt.
Fetcherr redefines the way airlines price flights by using artificial intelligence to maximize profits while lowering costs. The new funding will allow Fetcherr to onboard additional airline partners, open a North American headquarters, and further expand into other global markets.
"The airline industry is broken and needs an overhaul of its current platforms. Fetcherr's technology provides the best AI-based solutions for optimal revenue performance," said Roy Cohen, Co-Founder and CEO at Fetcherr. "We're committed to making real-time high-frequency pricing a reality and this financing will ensure we reach these goals."
Fetcherr's airline partners have reported higher operating revenues since deploying their pricing technology. This gives investors confidence that Fetcherr can deliver measurable impact across all aspects of operations, despite challenges facing the broader industry. Given uncertainty in the VC market, the raise also solidifies the company's growth trajectory.
"Many of the largest global travel companies still rely on rudimentary infrastructure and manual or static processes for demand prediction, fare pricing, and subsequent revenue management decisions, all of which directly impact topline. We believe that Fetcherr's novel, cloud-based system will play a critical role in disrupting traditional fares by simulating demand and optimizing prices through AI," said Harley Miller, CEO and Managing Partner at Left Lane Capital. "We are honored to be part of Fetcherr's journey to transform airline pricing, distribution, revenue management and beyond."
"We doubled down on Fetcherr as we witnessed impressive results that have further bolstered our confidence in Fetcherr's technology, growth trajectory, and ability to be a solution that is long overdue and much needed in the airline industry," said Lior Elkan, Managing Partner at M-Fund, who also led Series A. "We are thrilled to continue to play a role in Fetcherr's evolution, and we trust that their innovative AI pricing system will be a catalyst for change not only for their partners but also for the entire industry."
Fetcherr is an Israeli Algo Trading-based startup that developed a proprietary AI-powered pricing system, using proven reinforcement AI models to increase airline revenue by enabling High-Frequency Pricing. Founded in 2019 by experts in deep learning, Algo-trading, e-commerce and digitization of legacy architecture, Fetcherr aims to disrupt traditional, rule-based (legacy) revenue systems through deep learning methodologies, beginning with the airline industry. For more information, please visit www.fetcherr.io.
About Left Lane
Founded in 2019, Left Lane Capital is a New York-based global venture capital and growth equity firm investing in internet and technology companies with a consumer orientation. Left Lane's mission is to partner with extraordinary entrepreneurs who create category-defining companies across growth sectors of the economy, including software, healthcare, e-commerce, consumer, fintech, edtech, and other industries. Today, Left Lane has invested in more than 60 companies worldwide. Select investments include GoStudent, M1 Finance, Wayflyer, Bilt, Masterworks, Blank Street, Talkiatry, Tovala, and more. For more information, please visit https://www.leftlanecap.com/.
M-Fund is an Israeli-based early-stage solo-GP venture capital that started in 2019 as an elite investment club of private investors. M-Fund was founded by Lior Elkan, an angel investor and experienced venture capitalist, ex-Glilot Capital, and Hyundai CRADLE. The fund adopted an opportunistic strategy to maximize returns by backing domain-expertise entrepreneurs from seed to growth, mainly in enterprise software and deep-tech, such as software infrastructure and AI applications. Today, M-Fund has invested in 13 companies in Israel and the USA, starting with Zesty, Growthspace, and qbiq. For more information, please visit https://mfundvc.com/.
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