Yapta raises $2 Million and saves you money on flights

TechFlash is reporting that Seattle online travel startup Yapta.com has landed another $2 Million in venture funding, with the cash to be used to continue development on its airfare and hotel monitoring service. The deal brings total funding to $7.7 Million and included existing investors Voyager Capital, Bay Partners, First Round Capital, and Swiftsure Capital.

What's Yapta? According to their site:

Yapta is intended to help you get a handle on fluctuating travel prices so that you know when to "buy low". Yapta conducts daily price checks on the specific flights and hotels that you choose, and alerts you when prices drop or when they fall within your budget. Yapta also alerts you when you can use your frequent flier miles to book award seats on the flights of your choice.

Yapta's secret sauce is that it informs users of price reductions on flight tickets AND gives them the information they need to take advantage of the "guaranteed airfare" policies of many US airlines. You see, most airlines allow passengers to claim a travel credit if the price of a flight drops after booking it. Most people don't know that these policies exist and even less bother to check the price of their flight after purchasing it.

Yapta will track the price of the flights you've already booked and if the price drops below what you paid it will alert you when you're eligible for a refund or travel credit from the airline. Smart.