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Amtrak signs three year partnership extension

Amtrak, the US national rail carrier, has extended its partnership with SilverRail for a further three years. Under the agreement, SilverRail, the developer of the first global distribution platform specialising in passenger rail, will continue to distribute tickets for Amtrak’s entire network to customers all over the world. Additionally, it will enable the purchase of eTickets for SilverRail’s customers worldwide – an Amtrak innovation with great value to all, particularly corporate travellers.

The three year agreement will build on the longstanding partnership under which Amtrak benefits from being incorporated into SilverRail’s global, multi-country ticketing platform, SilverCore. The platform integrates operators across multiple countries into one system that can be easily accessed by online travel agents (OTAs), travel management companies and traditional travel agents to book domestic or international rail travel for leisure and business travellers.

“Amtrak carried a record 31.6 million passengers in Fiscal Year 2013, and has broken ten ridership records in the last eleven years. By providing a user friendly platform for our customers nationally and internationally to buy our services, SilverRail has helped us keep pace with this growing demand for rail,” said Matt Hardison, Chief Marketing and Sales Officer at Amtrak.

“We greatly value Amtrak’s continued reliance on SilverRail to connect rail passengers from across the world to their network. This is a fantastic endorsement for SilverRail and our goal to enable simple global booking of rail travel so it can be as easy as booking flights,” said Alain van West, Vice President Business Development at SilverRail.

SilverRail works with rail companies across a number of countries including the USA, UK, Germany, Spain, Belgium, the Netherlands, Luxembourg and Canada.

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SILVERRAIL RAISES $40M IN FUNDING TO ADVANCE GLOBAL RAIL TICKETING

We’re extremely excited to announce a new round of additional funding for SilverRail – a $40m Series C investment, led by Mithril Capital, a growth equity investment firm, founded by Peter Thiel and Ajay Royan. We’re looking forward to the coming years while we continue to prove out the thesis that the rail market can be significantly improved through consolidating the technology into a single platform for the distribution of tickets worldwide.

The full press release is below.

SilverRail, the global leader in passenger rail search and distribution technologies, today announced it has raised $40m in Series C funding to accelerate the integration of global rail carriers, continue building next generation search technology, and expand carrier IT solutions. This will include multi-modal journey planning and pricing, booking and reservation management, inventory and seating management, and reporting and analytics.

The Series C investment round was led by Mithril Capital Management, the global technology investment firm founded by Ajay Royan and Peter Thiel, and supported by existing investors – Canaan Partners, Sutter Hill Ventures and Brook Ventures.

“There are two critical global networks that have never worked well together: web and rail,” said Ajay Royan, co-founder and managing general partner at Mithril Capital Management. “Currently, a lot of time, energy, and data are being wasted. By upgrading the interactions among users, operators, and travel agents, SilverRail is making train travel much easier than air.” Royan will join the company’s board of directors.

“Mithril, which focuses on businesses that use technology to solve intractable problems, often in traditional sectors long overdue for innovation, is a perfect fit for SilverRail”, said Aaron Gowell, co-founder and CEO of SilverRail. “This additional funding will allow us to continue to develop market leading solutions for both rail carriers and travel sellers around the world,” he added.

Aaron Gowell and Will Phillipson founded SilverRail in 2009 with the vision of connecting every major rail carrier in the world and transforming search and ticketing. By consolidating content across multiple rail carrier systems, SilverRail has created a global marketplace for sellers and suppliers to connect, a feat historically close to impossible.

Today, the SilverRail platform is connected to markets accounting for $60bn in rail transactions throughout North America and Europe. In the last year alone, SilverRail has added connections in Spain, Italy, and Sweden, and is looking to move into Asia, with the goal of having all major global rail carriers integrated over the coming years.