Blockskye Raises $15.8 Million to Expand Blockchain Travel Platform

Blockskye, a startup specializing in blockchain infrastructure for corporate travel, has successfully raised $15.8 million in its Series C funding round. This investment is aimed at expanding the company's platform, which helps corporations streamline their travel management processes and reduce costs. The round was led by Blockchange, with additional participation from United Airlines Ventures, Lightspeed Faction, KSV Global, Lasagna, Litquidity Ventures, Longbrook Ventures, and TFJ Capital. The funding round, which began in the second quarter of 2024 and closed in the first quarter of this year, was structured as a priced equity deal with token warrants. The post-money valuation was not disclosed by the company.

Blockskye's platform enables enterprises to book flights, process payments, and manage travel expenses directly with suppliers such as airlines, bypassing intermediaries like travel agencies and credit card networks. This direct connection helps companies like PwC, TripAdvisor, and Diageo cut travel costs significantly. With the new funding, Blockskye plans to extend its reach to more Fortune 500 companies and broaden its presence in various regions, including Europe, Latin America, and Asia. The company claims that its technology can reduce total travel costs by 14.5% and has already delivered meaningful results, such as an 84% reduction in agent spend and millions of dollars in recovered unused tickets through real-time ownership tracking.

The company is also preparing to launch a new payments product, with a focus on stablecoin-based transactions. According to Brook Armstrong, co-founder and co-CEO of Blockskye, stablecoin adoption for enterprises only adds value when transactions are settled in real time, transaction by transaction. This approach aims to resolve disputes at the transaction level rather than the batch level, providing a more efficient and transparent payment process. Armstrong emphasized that Blockskye is the company that updates the full stack, ensuring that the entire payment process benefits from stablecoin technology.

Based in Boston, Blockskye currently employs over 40 people and plans to hire 30 more across various functions, including technology, sales, and management. The company's expansion plans and focus on innovative payment solutions position it as a key player in the corporate travel industry, leveraging blockchain technology to enhance efficiency and cost savings for its clients.