Cheshire-based Traverse has secured a £500,000 investment from NPIF – Maven Equity Finance which is managed by Maven Capital Partners (“Maven”) and part of the Northern Powerhouse Investment Fund (“NPIF”).
Established in 2007, Traverse, the main supplier of automation solutions in travel, offers a range of services including document matching automation and admin automation. Traverses’ services help travel companies streamline their back-office processes to save time, money, and resources. Having worked with the likes of Booking.com, Clarity Business Travel and World Travel Holdings, the investment will help Traverse further expand into the travel market and other sectors including telecommunications, recruitment, and the HR space.
Traverse has two key brands: Traverse Automation – which provides AI automation and data warehousing solutions and consultancy, and Cognitive Flow – an automation software business for technical businesses and departments. The funding will also be used to drive the wider adoption of the Cognitive Flow product more quickly and to innovate new AI-driven components.
NPIF – Maven Equity Finance has invested over £76 million into over 75 ambitious growth businesses across the North West region, creating over 1,500 new jobs in the process.
James Caplan, Investment Manager at Maven, said: “Traverse has a strong reputation in the travel sector and is a key market leader in the growing RPA space. With its highly scalable tech and reliability of product, it is our pleasure to help Traverse on its growth journey and expansion into new markets. We look forward to working with the team to achieve their goals.”
John O’Neill, CEO of Traverse said: “This is an exciting time for Traverse; we’ve been successfully rolling out our automation solutions to travel for several years, and this key investment will allow us to reach a bigger market with our Intelligent Automation product. Maven is a fantastic partner to help us to achieve this objective more quickly.” Traverse Automation is exhibiting at the World Travel Market at Excel London, 6th-8th November, where they will be happy to answer your travel automation queries. To book a meeting with their CRO, Joe Sadler, please head to their website: www.traverseautomation.co.uk/contact.