SilverRail Technologies, a provider of passenger rail search and distribution technologies, has raised $40 million in Series C funding led by Mithril Capital Management, with support from existing investors Canaan Partners, Sutter Hill Ventures and Brook Ventures. The company connects rail operators and travel sellers through its global distribution platform, SilverCore. This platform aggregates global rail content into a single, unified system through direct supplier connections, standardizing the search, booking and fulfillment processes. In the last year alone, SilverRail has added connections in Spain, Italy and Sweden, and is looking to move into Asia in the coming years.
The company previously raised $15 million of Series B funding (led by Canaan) at a $41 million valuation in early 2012. SilverRail will use the new funds to accelerate the integration of global rail carriers, continue building 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.