ATLANTA, September 29, 2022 (Newswire.com) - Volantio, an Atlanta-based technology startup, today announced the successful completion of its $6 million Series A raise led by DiamondStream Partners, an aviation and aerospace venture capital firm, with participation from Alaska Airlines and follow-on investments from JetBlue Ventures, IAG, Amadeus Ventures, and Ingleside Investors. The company plans to use the capital to rapidly scale its global team and invest in product development.
Volantio's market-leading platform "GreenLeaf" uses machine learning to address optimization challenges for fixed-capacity industries, which today represent over $5.7 trillion in revenue globally. One strong use case for this type of technology lies within the aviation industry: GreenLeaf shifts demand from flights that are close to selling out to others with more space available — increasing revenue, lifting asset utilization, and improving the experience for both customers and front-line airline staff.
The company has more than tripled its customers in the last two years, and has recently expanded into the live events industry through a first-of-its-kind partnership with Disney Theatrical Group.
"Volantio has already delivered well over $20 million in annual benefit to Alaska Airlines, and that number continues to grow," said Shane Tackett, Alaska Airlines' CFO. "Our guests and front-line staff alike love the product. Just as revenue management companies transformed fixed-capacity industries 30 years ago, Volantio's platform is having a similar impact today. This technology will be industry-standard functionality within the next three to five years, and we're so excited to be both an early adopter and an early investor in the company."
"Volantio's technology represents a revolutionary ability to maximize our clients' revenue while also benefiting their end consumers: the ultimate win-win," said Azim Barodawala, Volantio's co-founder and CEO. "We appreciate the belief our clients and investors have shown in our market-leading platform, and we are excited to deploy this capital to further scale our transformative solution globally in the years to come."