Nezasa acquires Chilean startup TripYeah
Nezasa acquires TripYeah to add a new solution to its product suite and expand its international presence in Latin America.
Travel technology provider Nezasa has acquired TripYeah to incorporate its flight itinerary optimization technology into its portfolio of products for travel businesses. Launched a year ago, TripYeah aims to provide operators, travel agencies, OTAs and airlines with air route optimization technology based on optimization algorithms and artificial intelligence. TripYeah has recently completed a round for $1.1 million, bringing the total funding for both companies to $14 million. Together, they will serve clients around the world, including giant European tour operators TUI Group and FTI, as well as GoWay and Grupo Gea in the Americas.
As part of the agreement, co-founders Elías Musalem, Fernando Ordoñez and Miguel Rodríguez will join Nezasa in senior management roles. All the rest of the TripYeah team will also join the Nezasa business. Nezasa's main product is TripBuilder, the first SaaS solution for companies that are operating at full capacity and that solves the enormous complexity required to offer a completely integrated and connected travel experience on the same platform. TripYeah's technology will become an add-on product alongside existing Nezasa applications used by tour operators, travel agencies, DMCs, etc.
The technology behind TripYeah optimizes complex air routes according to availability in real time, in a matter of seconds, optimizing based on time, cost, destinations, number of stops and CO2 emissions. This fast and automated process allows travel agencies to quickly respond to traveler inquiries. This translates into better conversion rates for travel agents and cheaper, more efficient itineraries for travelers.
TripYeah's product, to be called TripOptimizer, will play an important role in Nezasa's product portfolio. Not only because of its capabilities to strengthen and complement TripBuilder, especially in the area of flights, but it will also become the starting product within the portfolio. TripOptimizer is quick and easy to adopt, allowing travel agencies to leverage advanced air route optimization algorithms in addition to their existing reservation systems.
Manuel Hilty, director and founder of Nezasa, indicates: "Our vision of Nezasa from the beginning has been to continue improving and developing our technological proposal in an organic way. The acquisition had never been on the table, but the value proposal and the TripYeah's technology fit naturally into Nezasa's product offering.
TripYeah has tackled the complex problem of route optimization smartly and efficiently. TripOptimizer not only offers superior and efficient optimization for complex itineraries, it is also a B2B technology with the simplicity of a B2C experience. We are delighted to incorporate TripYeah in our journey, so that we can offer our clients an innovative online reservation solution designed to adapt to the needs of their clients. The acquisition is also a great cultural fit for Nezasa, as both teams sought to bring an innovative and disruptive approach to the travel business.
We are also delighted to welcome Elías, Fernando, Miguel and the TripYeah team, who will help us further our technological development and growth. Last but not least, the new operating base in Chile will allow us to be much closer to the Latin American market and accelerate our international expansion.”
Elias Musalem, director and founder of TripYeah, mentioned: "Our mission has always been to find solutions that promote the productivity and efficiency of their resources among travel agents. In this sense, this acquisition is fully in line with the evolution of our In addition, both businesses are complementary, therefore, this will allow us to work together to meet the requirements and needs of our customers faster than ever.
For TripYeah, being part of this high performance team is a great opportunity that we are certainly pleased and excited about. We are delighted to join this challenging journey that has just begun.”