Travel AI Agent Company Otto Raises $6 Million, Backed by Industry Leaders and Founders from Expedia, Egencia, Concur, Orbitz
Otto Uses the Latest in GenAI and Multi-Agent Frameworks to Deliver a Personalized Business Travel Experience from Planning to Booking to On-The-Road Support; Seed Round Led by Madrona Ventures, with Direct Travel and Travel Industry Angels Participating
August 22, 2024 12:00 PM Eastern Daylight Time
SEATTLE–(BUSINESS WIRE)–Otto, a startup building an intelligent and autonomous AI travel agent for business travelers, announced today that it has raised a $6 million seed round led by Madrona Ventures, with participation from Direct Travel and angel investors from across the business travel industry, including Erik Blachford, former CEO of Expedia, IAC Travel and Couchsurfing; Barney Harford, former CEO of Orbitz and COO of Uber; and Hugh Crean, CEO of Operix and former CEO of Farecast (acquired by Microsoft).
Otto’s mission is to create a travel assistant that plans, books and supports you during your trip. Otto is an intelligent agent, utilizing the latest in AI models and methods, that learns from a business traveler their likes and preferences, from their favorite airline, specific flights, and preferred hotels to other travel details. Otto will also provide on-trip support as flights and plans change while in transit. Focused on the business traveler who doesn’t have a contracted corporate travel partner, known as unmanaged business travelers, Otto will integrate with key service providers across the business travel industry, including Spotnana and Direct Travel.
Steve Singh, the founder of business travel and expense leader SAP Concur and managing director at Madrona, worked hand in hand with Madrona Venture Labs to conceive and prototype Otto. Steve led the investment for Madrona and will serve as the Executive Chairman. Michael Gulmann, Otto’s Founder and CEO, brings over a decade of travel industry product, marketing, and sales experience as the former Chief Product Officer and SVP of marketing of Egencia and SVP/CPO of Consumer Products of Expedia Group.
“The advent of AI is going to bring massive changes to the travel industry. We are excited to apply our deep understanding of the infrastructure of the travel industry to help build an AI agent for frequent business and leisure travelers who today are either scheduling their own trips or working with a trusted human executive assistant to do so,” said Steve Singh.
“We are thrilled to partner with Madrona and Steve, who bring deep expertise and experience in the travel industry and enterprise software. With a Spotnana integration and a partnership with Direct Travel, Otto is set to transform the way business travelers plan and book their trips. By providing a personalized, convenient, and smart travel assistant that understands their needs and preferences, Otto is ushering in a new era of travel,” said Gulmann.
To learn more and sign up for the waitlist, visit www.OttoTheAgent.com.
About Otto
Otto is based in Seattle, Washington. The company is hiring and plans to bring its product to market in six to nine months.
Contacts
Erika Shaffer for Otto
erika@madrona.com
206-972-5514
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