The makers of Hopper, an app which uses big data to predict and analyse airfares and advise if a user should wait or book, raised $16 million in a funding round, bringing its total to date to $38 million.
The new funds will “fuel Hopper’s continued growth and support our hiring efforts” as it expands its team in Montreal and Boston.
Since its launch early in 2015 for iOS and Android, the company said it surpassed 3 million downloads and sent more than 38 million push notifications to users, with 7.3 million being sent last month alone.
It also claims to have monitored fares for more than 5 million watched trips worth in excess of $4.5 billion in gross booking value.
“Our data-science team has collected a huge historical archive of trillions of flight prices. We analyse that data to share with our users through insightful predictions that consistently perform with 95 per cent accuracy,” it said.
Hopper also announced that American Airlines fares will now be available through the app, adding that “we’re working on a lot of exciting updates.”
The company is focused on not being “mobile-first” but “mobile-only.”
Its CEO, Frederic Lalonde, told TechCrunch that “we fundamentally believe that the mobile app experience in one shape or form is going to take over all commerce. A hundred percent of what we do is based on mobile. And beyond that, we’re very much a conversational company in the sense that 90 percent of what we sell comes from a push notification.”
The funding round was led by BDC Capital IT Venture Fund, in addition to existing investors OMERS Ventures, Accomplice and Brightspark Ventures.