SilverRail Technologies secures $5 million investment

18th Apr 2011
SilverRail Technologies secures $5 million investment

SilverRail Technologies, the Boston and London based technology provider of passenger rail ticketing solutions, has announced an injection of $5 million (USD). The cash infusion, from existing investors, is targeted to expand SilverRail’s capacity to integrate with new rail carrier inventory systems and bring online additional content into the world’s first truly global rail ticket distribution system.

Aaron Gowell, CEO and co-founder of SilverRail said: “The response from train operating companies has been overwhelming. This investment allows us to accelerate new connections and enables train operators to more quickly and efficiently connect to their customers wherever they may be.”  SilverRail is currently connected to UK rail, Amtrak in the USA, Via Rail Canada and the rail system in the Benelux countries, with several new supplier connections in process.

SilverRail Technologies’ SilverCore is the only platform to offer a universal rail API, where different rail content can be accessed by simply changing station codes. By using SilverCore, distribution partners are able to maximize their investment and return by focusing on selling rail on its own or as part of a package while SilverRail handles the underlying complexities of each rail operator’s ticketing scheme.

This investment round was led by PAR Captial, one of the largest investors in travel and a lead investor in ITA Software, recently sold to Google. Other investors include Sutter Hill, Grandbanks Capital, Brook Ventures and Accel Partners.



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