G2 SwitchWorks Corp. founder and CEO and Ex-Orbitz chief technology officer, Alex Zoghlin, announced at ResExpo 2005 that the company has secured $10 million of new funding.
The round was co-led by Norwest Venture Partners (NVP), a premier venture investor in information technology, and Texas Pacific Group’s TPG Ventures. Texas Pacific Group is a renowned investor in the travel industry having funded such players as Continental Airlines, America West Airlines and Hotwire.com.
G2 is focused on offering airlines an alternative GDS, which charges $1-2 per ticket versus the $10+ currently, charged by the major GDS.
Zoghlin said, “Our vision is to create the most efficient, automated travel distribution network and we now have the strategic partnerships and investors to make our vision a reality.”
G2 is currently booking passenger reservations from five major airlines – American Airlines, Continental Airlines, Delta Air Lines, Northwest Airlines and US Airways. It will soon be able to process reservations for six additional airlines including Alaska Airlines, America West Airlines, United Airlines and several airlines that do not distribute much of their fare content over GDS channels today.
G2’s launch customers include two of the top five US travel agencies as well as several other leading travel agencies and technology providers. This new funding will support G2’s continued growth, and enable the company to accelerate the expansion of its technology integration team and enhance its technology offerings and channels.
