Mystifly, a Singapore-based specialist in airline distribution technology, has raised pre-Series B funding of $8 million, as part of an investment involving Cornerstone Venture Partners, RSI Fund I and Jenfi & Crusade Partners. Founded in 2009, Mystifly enables travel intermediaries to access airfares via its API-driven technology, as well as offering airlines a distribution, payment reconciliation and settlement platform.
Rajeev Kumar, founder and CEO of Mystifly, explains how this pandemic has instilled resilience in their operations and how the investment in their multi-source search, servicing and payments platform has resulted in a self onboarding enterprise-level air travel platform for airlines and intermediaries. The funds will be used to further develop Mystifly’s data and tech capabilities, like hiring more engineers and data experts.
Mystifly’s Azygos platform, a multi-source airline retailing solution, was unveiled at the Phocuswright Conference last year. The platform has been improved with the ability to combine traditional Global Distribution System booking with new distribution capability booking. A number of top-tier customers are in the process of coming live.
Rajeev Kumar is confident that turning NDC-ready by April means that the airline industry will undergo a “tectonic shift”. will no longer rely on single source content such as the GDS but access airline inventory across multiple systems and NDC direct connections, allowing for a “holistic view”. AI use can also be implemented to more effectively create individual customer offers and price forecasting, as well as taking into account traveler intent data.
Overall, Mystifly is looking to the future and their investment in technology, ensuring travel intermediaries and airlines are able to meet customer demands by adapting to the ever-changing e-commerce world.
