Hopper, an airfare app that tells users how to find the cheapest tickets based on the timing of the flight, announced that it has raised $16 million in a funding round. The round, led by BDC Capital IT Venture Fund, brings the company’s total funding raised to $38 million.
The money is reportedly intended for growing the company’s team in Montreal and Cambridge, Massachusetts.
Hopper’s app, released in 2015 after several years of offering web reports and archiving flight data, has about 3 million downloads so far on iOS and Android combined.
The app trawls through millions of flight data points daily in an attempt to find the ideal time for users to book a flight. The data is presented to user via a color-coded calendar that identifies which days are expensive (red) and which are cheapest (green) to travel.
The company only delivers its data through mobile. It is currently one of the top five travel apps in the Apple store. It reportedly delivered 7.3 million push notifications last month, and
Hopper also signed a deal with American Airlines to offer airfares directly through the app—AA was one of a few airlines that didn’t offer it’s airfares through Hopper. The app now supports almost all major airlines. It makes money from the airlines, and charges a $5 convenience fee to consumers.
New features the company plans to roll out include offering customizable search options that will enable users to find the cheapest fares, or avoiding long layovers.