Hopper raises $61M - Mobile World Live

Hopper raises $61M

15 DEC 2016

Hopper, maker of an app that analyses and predicts airfare, secured CAD82 million ($61 million) in a Series C round, as it said it is now selling $1 million in flights per day.

The firm will use the funds for further growth, to expand its international presence, and partner with more airlines internationally.

The app is currently selling tickets in 126 countries, and Hopper plans to make “substantial usability and localisation updates to support the app’s growth in a number of key markets”.

It also wants to grow from 40 staff to more than 120 employees by the end of next year.

Hopper claims to be the only company that can forecast future flight prices with 95 per cent accuracy up to a year in advance. When a user searches for a flight, the app tells them if they should book immediately or wait, based on current and historical trends as well as pricing volatility.

The company said the app is installed over a million times each month. It has more than 10 million downloads and has been used to track 18 million individual trips.

“Hopper is sending over 20 million push notifications a month and 90 per cent of Hopper’s sales come directly from push notifications,” said Frederic Lalonde, CEO and co-founder (pictured, right).

“Mobile commerce has reached the tipping point globally. We have growth initiatives slated for Q1 2017 in over 20 countries in Latin America, Europe and Asia,” he added.

The current round brings its total funding to date to CAD104 million.

It was led by Caisse de depot et placement du Quebec, a pension fund manager. Existing investors such as Brightspark Ventures and Accomplice also participated.

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Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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