Saturday, October 16, 2021
HomeTravel StartupsHow this travel startup raised $5M from ex-CEOs of Orbitz and Vacasa...

How this travel startup raised $5M from ex-CEOs of Orbitz and Vacasa in the middle of a pandemic

TrovaTrip co-founders Nick Poggi (left) and Lauren Schneider. (TrovaTrip Photos)

The travel industry took a major blow when the pandemic hit last year, slashing revenue for airlines, hotels, and tech companies such as Expedia or Airbnb.

Despite those headwinds, Portland, Ore.-based startup TrovaTrip was able to not only survive, but convince investors to back its business.

The travel planning company on Tuesday announced a $5 million funding round led by Seattle’s PSL Ventures, with participation from Barney Harford, the former CEO of Orbitz, and Eric Breon, founder and former CEO of Vacasa. Elevate Capital and Oregon Venture Fund also invested.

Founded in 2017, TrovaTrip runs a marketplace that matches travel group hosts with travelers. The “Hosts” include content creators on social media who use TrovaTrip to generate revenue from their followers; the company lets them set their own trip prices. TrovaTrip partners with tour operators who charge a base rate…

Read further.

RELATED ARTICLES

Most Popular

Recent Comments

Corporate travel startup TripActions raises $275 mln, valued at $7.25 bln

Oct 13 (Reuters) - U.S. corporate travel and expense tech startup TripActions on Wednesday said it raised $275 million at a valuation of $7.25...

Gujarat govt to give Rs 5,000 aid to tribal members for undertaking Ram Janmabhoomi pilgrimage

Modi said the tribal pilgrims will be given financial assistance of Rs 5,000 per person for pilgrimage to Shri Ram Janmabhoomi.The BJP government in...

German economic institutes cut 2021 growth forecast to 2.4% – sources

BERLIN, Oct 13 (Reuters) - Germany's economic institutes will cut their joint forecast for 2021 growth of Europe's largest economy to 2.4% from the...

Travel during Covid-19 : Foreigners tourists on chartered flight are now allowed to enter India; check details

India eases travel norms for foreign touristsAs more and more people accept India’s Covid-19 vaccine certificate to permit overseas travelling from India, starting from...

Corporate travel startup TripActions raises $275 mln, valued at $7.25 bln

Oct 13 (Reuters) - U.S. corporate travel and expense tech startup TripActions on Wednesday said it raised $275 million at a valuation of $7.25 billion, its second major fund raising event announced this year.TripActions made a strong comeback from a sharp downturn in business...