
The Travel Tech Forerunner, Travelport Raises more than $500M from Affiliates
Travelport, the travel technology company with a proprietary travel B2B platform, receives commitments worth $500 Million
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CIO Applications Europe | Thursday, June 11, 2020

Travelport, the travel technology company with a proprietary travel B2B platform, receives commitments worth $500 Million
Fremont, CA: The leading travel technology company, Travelport Worldwide Limited receives commitments for a value of more than $500 million in the form of financing from affiliates of the company owners, Siris Capital Group, LLC, and Evergreen Coast Capital, the private venture capital firm of Elliott Management Corporation and an extra $500 million of readily available financing capacity.
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The investment attained will be used to maintain the liquidity the company needs to continue exceeding the expectations of its customers, despite the adverse impact of COVID-19 pandemic. The latest input of funds will allow the company to continue investing in state-of-the-art technology and next-generation platform to ensure that it is all set for further growth as the travel returns to normalcy.
“COVID-19 and the governmental response to the pandemic has had a negative impact on the travel industry, including our business, and we appreciate the increased support from Siris and Evergreen as we work to get through this challenging time,” said Travelport CEO Greg Webb. “Their unwavering commitment and new capital ensure that we can continue to meet the needs of our customers, support our employees, and take steps to emerge from this global health crisis in a strong position. With the support of our investment partners, we are confident in the long-term viability of our business, and we remain committed to continued technology investments and our transition to a next-generation platform.”
Travelport focused on providing its clientele a smooth experience when it comes to buying and managing travel. Its constant attention to make the process better is what Travelport is renowned for in the industry. The travel company operates a commerce platform that provides distribution, travel payments, technology, and other solutions in the domain of global travel and tourism. The platform by Travelport is mainly a business-to-business (B2B) travel platform that facilitates seamless travel commerce by interconnecting the world’s leading travel solutions providers with online and offline travel buyers.
It has gained a pioneering position in airline merchandising, hotel content and distribution, car rental, mobile commerce, and B2B payment solutions. The multi-faceted company also provides IT services to airlines, including shopping, ticketing, departure control, and other solutions.
“Siris is committed to Travelport’s future success and growth, and our priority is maintaining the company’s position as the industry partner of choice. We remain optimistic about the future trajectory of the business as the company takes steps to increase its resiliency and emerge from the current crisis,” explained Frank Baker, Co-Founder & Managing Partner of Siris Capital.
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