SOURCE: Yapta, Inc.

Yapta, Inc.

June 25, 2009 06:00 ET

Yapta.com Closes $2 Million Series B Financing

Funding to Fuel Development of the Tools, Information & Services That Assure Travelers of the Best Flight & Hotel Values

SEATTLE, WA--(Marketwire - June 25, 2009) - Yapta.com, an online travel shopping service that monitors airfare and hotel prices for travelers, today announced it closed a $2 million Series B investment round led by Voyager Capital. The financing, which also includes investment from Bay Partners, First Round Capital, Swiftsure Capital, W Media Ventures and private investors, increases the company's total capital raised to $7.7 million. The funding will be used to further the development of Yapta's airfare and hotel price monitoring service and provide working capital for the company's continued marketing efforts.

"Now more than ever, do-it-yourself travel planners need the tools, information and services that can assure them that they're getting the maximum value on their travel arrangements," said Tom Romary, president and CEO of Yapta. "With airfares and hotel rates fluctuating wildly from one day to the next -- and a number of sources providing conflicting predictions on where prices are headed -- the value-conscious traveler still isn't sure when to buy. Our Series B funding will enable us to continue the innovation of a next-generation price tracking service that assures travelers when they're getting their ideal travel arrangements at the best price."

According to a May 2009 survey of travel agents conducted by American Express Travel, more than half (60%) of those polled say that they see more travelers seeking their assistance to help find the best deal this year than in the recent past. Meanwhile, 89% of travel agents report receiving more inquiries about deals this year than in the recent past. Travelers using Yapta are more self-reliant and confident in their purchasing decisions because they're better informed of shifting travel prices and can more easily recognize a deal by having access to pricing in a historical context.

"Yapta has made excellent progress in just two years, having disrupted an industry through innovative pricing technology and delivering on its value proposition of saving travelers money," said Bill McAleer, managing director of Voyager Capital. "The management team has proven they have what it takes to generate recurring usage of the service and grow revenue, and I'm looking forward to working with them to advance the business forward."

In addition to its successful funding round, Yapta was recently a recipient of the "Best Money Saving Tools Award" from WiseBread.com. In 2008 Yapta was named the "Consumer Product of the Year" by the Washington Technology Industry Association, a winner of the AlwaysOn Global 250, and one of Travel + Leisure Magazine's Top Travel Websites.

About Yapta.com

Yapta, Inc. was founded in January 2006 with the mission to assure consumers that they get the most value out of their trip planning and pay the lowest possible price for airline tickets. Yapta's online service monitors airfare price volatility and alerts consumers when the price on "tagged" flights decreases. Bringing to light pro-consumer "guaranteed airfare rules" offered by many airlines, the service helps air travelers obtain travel vouchers -- and in some cases, cash refunds -- when the price decreases on tickets that have already been purchased. For more information, visit www.yapta.com.

About Voyager Capital

Voyager Capital is a leading Pacific Northwest information technology capital firm, providing entrepreneurs with the resources, experience, and connections to build successful companies. Voyager invests in early and growth stage business software and services, wireless and digital media companies, where the firm's domain expertise and go-to-market resources help build market leaders. Voyager Capital has offices in Seattle, WA, Portland, OR and on Sand Hill Road in Menlo Park, CA. For more information, visit Voyager's website at www.voyagercapital.com or telephone 206-438-1800.

About First Round Capital

First Round Capital is a seed-stage venture capital firm dedicated to helping talented entrepreneurs build remarkable companies. First Round is not afraid of investing in pre-revenue companies -- and often provides a company's first outside capital. As former entrepreneurs, the partners at First Round understand the challenges of launching a new enterprise, and offer insight and expertise that are as valuable as its venture capital. The firm has invested in over twenty start-up companies including Jingle Networks, Krugle, Riya.com, and VideoEgg. Additional information on First Round Capital is available via the Internet at www.firstround.com.

About Swiftsure Capital LLC

Swiftsure Capital is a Seattle-based private equity firm that invests in and provides investment banking services for mid to late stage private growth companies. Swiftsure's professional team has significant operational and financial expertise as well as extensive relationships with private and institutional investors. For more information on Swiftsure, e-mail info@swiftsurecap.com.

About Bay Partners

Bay Partners, LLC is an early stage venture capital firm located in Silicon Valley. The firm has been building successful technology companies since 1976, funding over 300 startups. Bay leverages the operating background of its partners and its extensive network of executives and advisors to help outstanding entrepreneurs create the leaders in new high-growth market segments. Notable successes from Bay's portfolio include Brocade, Concord Communications, Digital Island, Exodus, Sonicwall, Placeware, Informatica, Web Logic (BEA) and NetScaler. Bay has over $1 billion under management. For more information, visit www.baypartners.com.

About W Media Ventures

W Media Ventures is a Vancouver-based venture capital firm focusing on Consumer Internet opportunities in the Pacific Northwest and Western Canada. Together with long-term partner Burda Digital Ventures / Acton Capital Partners, W Media Ventures looks for entrepreneurs that want to build remarkable companies in the fields of digital media, e-commerce, social networks or platforms. The firm was founded by Boris Wertz in 2007.

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