An AI-powered revenue operating system for aviation and beyond: FLYR Labs Lands $150 Million in Series C Funding
A multi-trillion dollar business in crisis, upending incumbents, unfettered ambition, and pragmatic deep learning. FLYR’s story has it all.
Would you like to be in the aviation business right now? For most people, this would be one of the worst places they could be in. For FLYR Labs CEO and Founder Alex Mans, crisis equals opportunity.
FLYR Labs, makers of the data and AI-driven Revenue Operating System for airlines, travel, and transportation, today announced it has secured $150 million in Series C. ZDNet caught up with Mans to find out more about the investment and FLYR’s product and growth.
“Growth” and “airlines” are hard to use in the same sentence these days. As a recent McKinsey report put it, it’s difficult to overstate just how much COVID-19 has devastated airlines.
According to the report, in 2020, industry revenues totaled $328 billion, around 40 percent of the previous year’s. In nominal terms, that’s the same as in 2000. The sector is expected to be smaller for years to come; McKinsey projects traffic won’t return to 2019 levels before 2024.
Read the full article on ZDNet
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