Otto Raises $6 Million in Seed Round
Otto, a Seattle, Washington-based startup building an autonomous AI travel agent tailored for business travelers, has raised $6 million seed round.
The round was led by Madrona Ventures, with participation from Direct Travel and industry veterans such as Erik Blachford (former CEO of Expedia), Barney Harford (former COO of Uber), and Hugh Crean (CEO of Operix).
Madrona Ventures is a seed, early-stage, and acceleration-stage investor and partner for founders. With over 25 years of experience, Madrona has invested in startups across the Pacific Northwest and the U.S., focusing on machine learning, AI, marketplaces, DevOps, biotech, and a wide range of technology sectors.
Steve Singh led the investment for Madrona and will serve as the Executive Chairman.
The company is currently hiring and plans to bring its product to market within six to nine months.
Otto's mission is to create a travel assistant that plans, books, and supports users during their trips. Otto is an intelligent agent that leverages the latest AI models and methods to learn a business traveler's preferences, including their favorite airlines, specific flights, preferred hotels, and other travel details. Additionally, Otto provides on-trip support as flights and plans change during travel. Focused on business travelers without 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. Otto is based in Seattle, Washington.
Funding Details
Company: Otto
Raised: $6.0M
Round: Seed Round
Funding Date: August 2024
Lead Investor: Madrona Ventures
Additional Investors: Direct Travel, Erik Blachford, Barney Harford, Hugh Crean
Company Website: https://www.ottotheagent.com/
Software Category: Travel Assistant