Traxo Secures Investment from Bay Area Entrepreneurs Workshop
Fueling Growth for Online Travel Innovation
DALLAS, Jan. 31, 2013 /PRNewswire-iReach/ -- Dallas-based Traxo, the developer of the Internet's leading personal travel organizer, has been accepted into the program of Bay Area Entrepreneurs (BAE) Workshop. Based on a 40% funding success rate for clients at a predecessor company, The BAE Workshop is a complete fundraising program, encompassing coaching, mentoring, introductions and meetings with angel and venture capitalists, primarily in the San Francisco Bay area.
Founded in 2008 by travel industry veterans, Traxo has become the hub for organizing all travel related information, accounts and communications for thousands of travelers and for many of the travel industry's leaders. Traxo completed the acquisition of GoMiles in September 2012, won the Vator Splash NY pitch competition in December 2012, was named a Briggs & Riley Travelware Favorite 20 Websites for 2012, and was featured as Hot Startup by Entrepreneur.com in January 2013. The Traxo team is based in Dallas and is pursuing a Series A to add to its existing staff of ten, complete its mobile apps and further accelerate growth.
"Traxo is excited to be a part of the BAE Workshop portfolio of businesses which allows us to stay in Dallas and be able to get access to wider sources of funding," said Andres Fabris, Traxo co-Founder and CEO.
BAE Workshop founder and CEO Ralph Patterson said, "Traxo is the perfect example of the reasons BAE Workshop was formed, as we assist them in taking their good business plan to a great plan that is funded while connecting Bay Area investors to the best deals, whether they're in San Francisco, Dallas or halfway around the world. We have invested in and accepted 14 startups over the past two years that include companies outside the Bay Area from Dallas, Seattle, and even Germany."
Traxo is the world's most advanced personal travel organizer. The free service automatically detects and aggregates travel information, including: itineraries, miles, points, and elite status, directly from over 190 different travel websites, and accepts travel confirmation emails from over 1,300 travel providers, organizing everything into a single, comprehensive travel dashboard. Traxo users become part of a smart, savvy online travel community and are rewarded with rich and informed social travel experiences. Conceived by founders Andres Fabris, Andy Chen and Richard Pendergast, Traxo's executive team is comprised of business veterans with years of industry experience at companies such as Sabre and Travelocity. For more information, please visit http://www.traxo.com.
ABOUT BAE WORKSHOP
Bay Area Entrepreneurs (BAE) Workshop is dedicated to improving the odds for entrepreneurs seeking funding through a unique approach to entrepreneurial training. BAE Workshop's comprehensive program delivers initial funding; an eight-week workshop and mentoring focused on creating documents investors want to see, and an extensive search, personal introductions, and meetings with angel and venture capitalists for capital. BAE Workshop works with a wide range of companies and high growth business sectors that seek from $250,000 to $10 million in equity investments. The BAE Workshop team is led by experienced consultants, VCs and angels. The BAE Workshop process was proven at Technology Ventures Corporation (TVC) where BAE CEO Ralph Patterson was a Director. TVC helped entrepreneurs raise over $1 billion of capital that created over 12,000 jobs. They served 348 clients of whom 141 were funded by Venture Capital firms, a funding rate of 40%. For more information, please visit http://baeworkshop.com
Pamela Johnston, Cloud12
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