The Australian technology startup, Seatfrog, has raised AUS$8mn (US$5.91mn) from its Series A funding round.
The venture capital company behind Secret Escape and Zoopla Property, Octopus Ventures, led to the financing.
Luke Hakes, a Partner at the firm, and Simon Hickey, the former CEO of Qantas Airlines, will join the firm’s advisory board as part of the senior hiring plan following the round.
The funding will also be used to further growth and expand product capabilities.
“We are thrilled to be leading the funding round and to be joining the board of a Seatfrog, which we feel has the opportunity to make a fundamental difference to the way consumers approach the challenges of travelling,” said Luke Hakes, Octopus Ventures Partner.
“Having seen the impact of dynamic revenue management systems within hotels and airlines, we feel there is a very interesting opportunity in applying this approach to the multi-billion dollar train travel industry.
“Seatfrog is exactly the kind of forward-thinking technology with a powerful brand, that we want to invest in.”
“Octopus Ventures looks forward to being part of Seatfrog’s journey and playing a role in supporting the team and taking the business to new heights across many geographies.”