Travel tech startup Splitty has raised a seed round of $2.4 million from Techstars Ventures, Techstars Accelerator, AOL, and BIP Capital.
Israel-based Splitty aggregates different rates from various travel wholesalers and online travel agencies. “Too many sites claim better prices but then deliver the exact same options as every other site and only marginal savings,” said CEO Eran Shust.
“Splitty’s patented technology builds deals in an entirely different way, and as a result we are able to offer options and savings that are truly different.”
The fresh tranche of cash will be invested in further product development. The startup currently has partnerships in place with American Airlines and Trivago among others.
The online travel services market is tipped to be worth $1.9 billion globally by 2022.
“Splitty’s unique platform has the potential to disrupt hotel booking,” added Michael Cohn, managing director of Techstars Atlanta in a statement.
“Splitty’s pricing algorithm appeals to both price-conscious consumers as well as hotel revenue management leaders, helping them make available inventory overlooked by traditional booking platforms,” he said.