JetBlue Airways’ recently launched venture capital subsidiary has announced its first investment in a travel tech startup.
JetBlue Technology Ventures has backed Silicon Valley-based travel and data analytics company FLYR, which uses predictive analytics to forecast the price of airfares and insights into customer demand.
The undisclosed investment was announced as JetBlue Technology Ventures unveiled its new base in Silicon Valley.
"In just a few short weeks, we have heard from hundreds of startups with incredible ideas about the future of travel," said Bonny Simi, president, JetBlue Technology Ventures.
"We choose FLYR as our first investment because they share our belief that predictive analytics can provide value to travelers and will change the travel experience in ways we have yet to imagine."
FLYR was formed in 2013 and offers precise price forecasts of airfares in North America and most of Europe which is says gives ‘valuable insights into customer demand and potential revenue streams.’
"We are honored by JetBlue Technology Ventures’ investment in FLYR. The interest we see from leaders within the travel industry speaks not only to the power of our solutions, but also to the utility we can offer to both consumers and travel companies" said Jean Tripier, Co-founder and Chief Executive Officer of FLYR.
JetBlue Technology Ventures is the first venture capital firm in Silicon Valley backed by a US airline and plans to continue investing in more early stage travel tech start-ups.
