Most online travel and hospitality site cater to the vacation crowd, and Traxo, a Dallas-based software startup, started out in the same area. However, its primary customer base now is corporate clientele. Andres Fabris came up with an idea for Traxo while at Harvard Business School and launched his company in 2008.
What is Traxo?
As with vacation rentals, online travel booking is a very fragmented business. Traxo is, in essence, an online travel organizer. It pulls all the travel information data from a variety of sources, allows it to be accessed from one site and be shared with family, friends, or colleagues. That includes itineraries from travel-related websites, frequent flier miles, loyalty programs from car rentals and hotels, flight alerts, weather prediction service, and review service for hotels and flights. Traxo offers four main products:
- Traxo Capture – delivers travel data to its clients’ apps through parsing;
- Traxo Connect – provides real-time information on all on- and off-corporate travel management platforms’ booking;
- Traxo Filter – captures off-channel travel booking and expenses; and
- Traxo Traveler – offers travel itineraries, flight alerts and loyalty programs tracking.
Of the four products, Traxo Filter is probably one service that all corporations would appreciate. Off-channel travel refers to employees booking outside of approved corporate travel agents. There are many reasons: collecting loyalty programs points, looking for best fares, or staying in hotels that are not available through the corporate travel sites. The side effect of this is that corporations cannot easily track their travel expenses or track their employees. The Traxo Filter allows them to do both. Traxo TripBuilder sorts and maps all trips and updates the traveler’s calendar. The company also partnered with SAP’s Cloud for Travel to provide travel expense management.
All these services attracted several corporate clients such as Lufthansa, World Travel, Travefy, Travel and Transport, Abacus, and InsideFlyer to name just a few. They also attracted several financial backers, including TripAdvisor, Advantage Capital Partners, Silver Creek Ventures, and Thayer Ventures.
What’s next for Traxo?
Traxo does not plan to be confined to the US only. Its plans include expansion into Western Europe and Asia. However, Traxo is not a leader in this space, and several other companies, such as TripIt, TripCase, and WorldMate, provide similar services. All three companies are adding new features to attract new customers. Recently, TripIt introduced neighborhood safety scores and real-time airport security wait times. TripCase manages 30 million trips per year for over 10 million travelers, has a client base of over 100,000 and integrates 50 airlines into its system. WorldMate has a customer base of 10 million business travelers. Its features include hotel “Price Alerts” and hotel “Counter Offers,” time zone differences, currency converters, calendar synchronizations and many more. Although the company made significant progress in the past 10 years, it would have to introduce new services to retain current clients and add new ones.