As frequent travelers, we’ve always suffered from airfare volatility, never knowing whether we should book now or wait for a better price. For online travel agencies, this volatility means losses of $32B dollars every year. Whizar’s AI-powered SaaS platform helps online travel agencies (OTA) receive the best airfare prices based on future predictions. By efficiently delaying ticketing to the optimal moment, they generate new savings which can be shared between the OTA and the traveler. In addition, during the delay window, Whizar allows free changes and cancellations, automatically increasing conversion rates as it reduces the travelers’ hesitation while booking. With this platform, OTAs can save an average of 6% of the flight price on around a third of their bookings.
Leading Whizar are three technological co-founders: Amir Balaish (CEO), Tor Leelo (CPO) and Armon Avrahamy (CTO). Together they served for five years in the IDF’s prominent department, unit 8200. When searching for solutions to this problem of airfare volatility, all they found were partial solutions like ‘buy or wait suggestions’ or ‘airfares lock’. But those solutions didn’t quite fix the problem. Coming from the fields of AI and algorithmic trading, they immediately understood the solution they had been looking for. They founded Whizar on a belief that data and intelligence must be used to make travel more transparent and hassle-free for everyone. By using state of the art technology and creating accurate products, the team believes they can bring must-needed efficiency to the travel world.
When reflecting upon their journey so far, Whizar is extremely thankful to SigmaLabs Accelerator and the close relationship they have formed with their incredible mentor. “SigmaLabs has created an amazing ecosystem of mentors, gurus, experts, and alumni who are all working side by side. The workspace has been a fun, inspiring and motivating atmosphere” says Tor Leelo, Whizar’s CPO. They believe that the advice and support that they receive on a daily basis has been irreplaceable and that the program has heavily contributed to their progress. They feel especially proud and fortunate to be a part of the huge SigmaLabs family.