Kerry-based start-up Mobacar has landed a multi-million investment that values the company at over €20m thanks to its focus on data science
Investment in data science to create the world’s first intelligent car rental and ground transport platform for airlines and travel agencies has landed Kerry-based start-up Mobacar a multi-million investment that values the company at more than €20m.
Global car rental brokerage Auto Europe and Delta Partners have made a multimillion-euro investment in Kerry-based Mobacar to create a global strategic partnership for airlines and online travel agencies.
The deal values the Killarney-headquartered company at €20m and will create 11 new high-end jobs in Kerry, including positions for data scientists, developers and business development professionals.
Mobacar’s existing 30-person team already includes six data scientists working on the world’s first intelligent car rental and ground transportation distribution platform for airlines and online travel agencies.
Data science to transform travel experiences
Founded in Kerry in 2013, Mobacar has more than 100 online travel companies using its solution today, including eight airlines, while Auto Europe has one of the world’s largest car rental brokerage businesses with more than 2.5m bookings per year and more than 600 people working across three service centres in Portland in Maine, Munich and Sydney.
‘Airlines and online travel agencies have been duped for years and have sleepwalked into car rental solutions that overprice their customers’
– MIKE WEBSTER, MOBACAR
The company was founded by CEO Mike Webster, a former executive at Fexco.
“From Kerry, Mobacar has been at the forefront of the development of retail intelligence technology for the travel industry. Based on these innovations, AE and Mobacar see the huge potential in partnering Mobacar’s technology and AE’s global supply and unparalleled service.
“Airlines and online travel agencies have been duped for years and have sleepwalked into car rental solutions that overprice their customers, drive poor conversions, are poorly serviced and drive absolutely no loyalty to the online travel retailer’s brand.”
Mobacar will use this investment to increase its staff numbers to accelerate its investment in its retail intelligence products, its technology and product team and its global sales team and bring its team in Kerry to 41 people by the end of the year.
“We are convinced that this new partnership not only enhances the distribution possibilities for our 12,000 B2B partners worldwide but also offers us the perfect solution to go out and win more B2B business,” said Nial McDevitt, European CEO of Auto Europe.
Car rental image via Shutterstock
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