General Atlantic has acquired a majority stake in Plusgrade for over US$1 billion, supporting the company's growth in ancillary revenue solutions for the travel and hospitality industries.

Target Overview: Plusgrade

Plusgrade, established in 2009 and headquartered in Montreal, is a pioneering developer of an ancillary revenue optimization platform tailored for the travel and hospitality industry. The company focuses on enabling airlines and other businesses to manage and enhance revenue related to seat upgrades and premium services. Over the years, Plusgrade has evolved into a significant player in this niche market, growing into a multi-billion-dollar entity.

Originally founded by Ken Harris, Plusgrade began with the vision of monetizing unused premium seats, allowing airlines to maximize their revenue potential. From its inception, the company succeeded in attracting leading airlines globally, and its New York office further established its footprint in the industry.

Industry Overview in Canada

The Canadian technology ecosystem has experienced remarkable growth in recent years, becoming a hub for innovation that rivals major global markets. Success stories such as Shopify highlight the caliber of talent and