This week, travel startups announced more than $ 87 million in funding.
>>SiteMinder, a hotel reservation tech startup, said on Tuesday it had received $ 74 million (AU $ 100 million) as part of a Series D investment round. Fidelity International, the management titan of assets, led the round.
The investment comes after BlackRock, the world’s largest fund manager, in January 2020 took a sizable stake in the Sydney-based startup, which helps hoteliers get their guests online.
SiteMinder has started preparations to seek regulatory approval to go public. The latest funding was a valuation of the company “above” about $ 733 million (about A $ 1 billion), according to financial documents.
Prior to this funding round, the company had raised around $ 120 million in capital from investors including AustralianSuper, Ellerston, Pendal Group and TCV (Technology Crossover Ventures). See Skift story for more.
>>SmarterTravel, the Tripadvisor media site collection which sold at a loss of $ 6 million last year, was bought by a digital marketing agency (HopJump) which adopted SmarterTravel as its new name. SmarterTravel closed $ 9.5 million in a Series B funding round.
Link Ventures and Second Alpha led the round.
SmarterTravel has 7 million email newsletter subscribers and includes brands such as Airfarewatchdog, Family Vacation Critic, and hotel review site Oyster. It has about fifty employees. TechCrunch first reported the news.
Put more formally, Tripadvisor’s final divestiture of SmarterTravel operations resulted in the accounting recognition of an asset value below their carrying amount, including goodwill, of approximately $ 6 million.
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>>Atomize, a provider of revenue management software for hoteliers, raised $ 4 million (€ 3.4 million) from angel investors.
Based in Gothenburg, Sweden, the startup helps hoteliers set their rates based on market signals. But it is expanding its services to other verticals, such as car rental, railways and aviation.
Atomize is preparing to go public on the Nasdaq First North Growth Market in 2022, CEO Alexander Edström said.
>>Yooky, an experiential tourism startup, raised $ 450,000 (€ 380,000) through crowdfunding from angel investors such as Giuseppe Miroglio, president of fashion powerhouse Miroglio Group.
Here’s the pitch for the startup, founded in 2018 in Alba, Italy: Consumers ask for travel itineraries for specific locations, and “local experts” across Italy come up with itineraries that the consumer can then choose from. To speed things up, the startup is using software to automatically complete and assemble travel suggestions in response to interpreting customer requests.
Yookye, an accredited online travel agency, also uses blockchain, or distributed ledger, technology to certify the authenticity of user reviews of places, guides, tours, experiences and services, said the co- founder and CEO Paolo Taricco.
Yookye was one of five winners of the Challenge of the digital tourism experience of the train this summer led by Gruppo Fs Italiane in collaboration with the Federico II University of Naples. First reported on Skift.
>>Zero point trail, which organizes sea-to-summit treks on Jeju Island, South Korea, has received seed funding.
The Jeju Creative Economy Innovation Center and Krypton Startup Accelerator led the round.
The startup, founded in 2019 by CEO Yoo Ram, aims to introduce the general public to the C2 Summit-style hike, which was once the domain of professional climbers, with this hike that rises from sea level to 2 km. above sea level along the Hallasan Volcano. The startup aims to become a brand specializing in outdoor lifestyles. First in English on Skift.
>>Trade fairs, a startup promoting sustainable and ethical or “fair” vacations, won over its first investors, including Howzat Ennea Group.
The startup, launched in Frankfurt in February by Sonja Karl and travel technology expert Stefan Seibel, aims to make sustainable vacations accessible to a wide audience.
In recent years, more and more travelers have questioned the impact of their travels on carbon emissions and on the humanity of the working conditions of the employees of the resort. Faircations aims to showcase approved brands, similar to what Green pearls Is. First reported on Skift.
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Skift cheat sheet:
We define a startup as a company formed to test and build a repeatable and scalable business model. Few companies meet this definition. The few that often attract venture capital. Their fundraising rounds come in waves.
Seed capital is the money used to start a business, often run by angel investors and friends or family.
Series A funding usually comes from venture capital firms. The cycle aims to help the founders of a startup make sure that their product is something that customers really want to buy.
B series funding is primarily for venture capital firms that help a business grow faster. These rounds of funding can help recruit skilled workers and develop profitable marketing.
C series financing usually involves helping a business grow, for example through acquisitions. In addition to VCs, hedge funds, investment banks and private equity firms often participate.
D series, E and beyond These predominantly mature companies and the round table can help a company prepare to go public or be bought out. Various types of private investors could participate.
Photo credit: This week, travel industry startups announced more than $ 87 million in funding, including SmarterTravel, a collection of content brands. SmarterTravel