CWT has raised $90 million of equity among its shareholders, which it in part will invest in expanding features of its myCWT platform this year, the travel management company announced.
Investments in myCWT this year will focus on creating a more tailored experience for both travelers and travel managers as well as using data to provide insights for travel managers, according to CWT. That will include using such technology as chatbots and artificial intelligence in its messaging channel, price optimization and expanded access to New Distribution Capability content.
In addition, CWT will invest to meet customer needs around travelers’ well-being, sustainability and inclusivity, the TMC said. These will be in the same vein as capabilities introduced last year including real-time carbon footprint indicators, profile fields for non-binary travelers and travel tracking systems.
CWT was able to invest last year following a late 2021 recapitalization deal, enabled by a prepackaged Chapter 11 bankruptcy filing.
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