Wiremind, a Paris company that makes the software many train, coach and airline operators use to set ticket prices, has raised €35M in its first outside funding round. The money comes from the French investor IronWave, formerly Wendel Growth; Bpifrance, the French state investment bank, through its Large Venture fund; and the Spanish firm Seaya Andromeda.
The company was profitable before the round, and its two founders remain the majority shareholders. Wiremind says revenue grew 67% in 2025, a year in which it signed 23 new clients and passed 80 in total, and that annual recurring revenue from CAYZN, its ticket-pricing software, grew 81%.
Chief executive Colin Girault-Matz linked the raise to the rise of AI, saying “we’re accelerating our efforts given the speed at which the market is adopting artificial intelligence tools”.
Software That Sets The Fare
Wiremind’s main product, CAYZN, handles what the travel industry calls revenue management: deciding how much each seat should cost, and how many seats to sell at each price, as demand rises and falls. Revenue management is why a ticket on a quiet midweek train can cost a fraction of the price of the same seat on a Friday evening, and why that price can change in the days before departure.
For travellers, that means prices move more often and track demand more closely. Fares tend to fall on quiet services and rise on busy ones, while operators aim to fill more seats on the trains and coaches they already run.
CAYZN uses machine learning, a form of AI that learns patterns from past data, together with mathematical optimisation to forecast how many people will want to travel on each departure and work out the best sequence of prices to offer. A rules engine automates the routine adjustments that revenue teams would otherwise make by hand, and a companion tool, CAYZN Tracking, collects competitors’ fares from the web so operators can see how their prices compare.
Wiremind says its software handled more than 318M passengers and more than €17B of operator revenue in 2025. When it announced its Eurostar contract in mid-2024, the company put those figures at about 250M passengers and €12B a year, with CAYZN making around 640,000 pricing decisions a day.
Wiremind says operators adopting CAYZN see revenue rise by 5% to 15% on average, and that in 2024 its customers recorded a median rise of 20% in revenue and 21% in passenger traffic. Separately, it says the revenue growth its operators achieved in 2025 came with stable capacity, meaning the gains did not come from running more trains or coaches.
Who Relies On It
More than 20 operators use CAYZN, including France’s national railway SNCF (Société nationale des chemins de fer français) and OUIGO España, its low-cost high-speed service in Spain. Italy’s Trenitalia, Eurostar and the Spanish coach and rail operator Alsa use it too.
Wiremind has also named the carpooling and coach platform BlaBlaCar, the Italian coach operator Itabus and Great Western Railway in Britain among operators whose revenue its software has lifted. Other clients named in the French trade press include the rail operators VR Group of Finland and Via Rail of Canada, as well as the airlines Transavia, Nouvelair and Flair Airlines.
Eurostar announced in June 2024 that it would adopt CAYZN under a five-year agreement, with the system due to go live in early 2025. François Le Doze, Eurostar’s chief commercial officer, said the company placed its trust in “this intelligent digital solution to ensure that our customers are offered the best options”.
The British coach operator National Express said in December 2025 that it had chosen CAYZN to modernise pricing on its scheduled coach network. John Boughton, its commercial director for the United Kingdom (UK), said the company was impressed “by Wiremind’s understanding of our commercial challenges”. Philippe Renon, Wiremind’s chief revenue officer, said the two companies would “unlock new value through clarity, control, and precision in pricing”.
Beyond Trains And Planes
Alongside CAYZN, Wiremind sells PAXONE, which manages an operator’s stock of seats and sells them across booking channels. In 2022, Wiremind’s cargo arm, Wiremind Cargo, launched CargoStack, a system that lets airlines manage freight from scheduling and capacity through to bookings and loading, with dynamic pricing and forecasts of how much space to overbook. Wiremind said at launch that its pricing module could handle more than 150M bookings a year.
EVENTORI, Wiremind’s ticketing and pricing software for live events, applies the same approach to sports clubs and event organisers. For them, an unsold ticket for a big match or concert loses its value the moment the event begins, just as an empty seat does once a train has left. Hotels use similar software: Duetto, for example, has bought FLYR Hospitality, a unit whose system sets room rates automatically.
From SNCF To New Markets
Girault-Matz and Wiremind’s technology chief, Charles Pierre, met in 2012 in the revenue management team at SNCF and founded the company two years later.
“Charles and I began our careers more than fifteen years ago in the rail and aviation industries,” Girault-Matz said. Victoire Laurenty, founder and general partner of IronWave, said that “without a single euro of outside capital, Colin, Charles and their teams have built systems” that drive revenue for “the largest rail and air operators”.
Wiremind plans to use the new funds to grow outside Europe, building on its business in South America and moving into the Middle East and Asia-Pacific. It will also spend more on AI research, including greater use of large language models, the technology behind chatbots such as ChatGPT, to improve its features. The company has not disclosed its valuation, the size of the investors’ stake or how many people it employs.
The test now is whether software built for European rail and air operators can win customers in Wiremind’s new markets, far from the French railway where its founders learned the trade. The company’s record with operators such as Eurostar and National Express gives it something to show prospective customers there.
