Travel management scaleup firm, BizAway announced its acquisition of Spanish artificial intelligence (AI) solutions provider Aervio.
With this acquisition, BizAway further boosts its innovation process, thereby strengthening its technological assets via the travel-centric artificial intelligence solutions offered by Aervio.
BizAway also announced that it will be absorbing most of Aervio’s team, with team members joining the former’s offices in Spain.
Founded in April 2016 in Barcelona, Aervio has established itself in the market for developing AI-based tools that can optimize travel planning.
Specifically, the company has created an intelligent platform that uses Natural Language Processing (NLP) to fulfill requests in minutes, reducing search, booking and billing time by 90 percent.
The acquisition will enable BizAway to further enhance its proprietary platform, thus ensuring an even more efficient, personalized and proactive service.
Time to grow
The announcement comes after a period of intense growth for BizAway.
Since 2015, BizAway has raised over 50 million euros in funding, with a recent round of 35 million secured in September 2024 by Mayfair Equity Partners, backed by the likes of MundiVentures, Azimut Digitech Fund, FNDX, GELLIFY, EXOR Seeds, and illimity.
Co-founder and chief executive Luca Carlucci said: “This acquisition marks an important step in our growth and innovation strategy. In an ever-changing industry like business travel, artificial intelligence represents a key opportunity. However, we strongly believe that technology must go hand in hand with the centrality of the human factor, especially in the area of customer assistance: this is why we will continue to invest in order to offer the best service with empathetic and competent support that is close to the real needs of companies and travelers.”
Aervio CEO Santiago Montero de Quadras added: “I am very happy about the successful operation we’ve just closed with BizAway. I truly believe in BizAway’s vision of delivering the future of travel, and I’m proud that Aervio’s technology, team and expertise can contribute to that journey.”
