Easol, which is like a Shopify for experience operators, has gotten backing from top-tier investor Tiger Global. Meanwhile, BookMe, a startup in Pakistan, has also raised money.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
This week, travel startups announced more than $32.5 million in funding.
>>Easol, a seller of e-commerce software to tours, activities, and event operators, has closed a $25 million Series A funding round.
Tiger Global led the round. Notion Capital, Y Combinator, Foundation Capital, Slow Ventures, and others also participated. The startup had raised a $4.5 million seed round.
Easol’s software supports experience businesses in segments including festivals, wellness retreats, food and drink, sports, and adventure trips. Its digital marketing tools aim to drive more direct sales, in a similar way to how Shopify works for retailers and mom-and-pop shops. Currently, many operators use different tools for marketing online, running their website, accepting online sales, and handling payments.
The co-founders have experience in the sector, having helped to create the Rise Festival, a snowsports-and-music-themed event in Europe.
>>Bookme, Pakistan’s online travel brand, raised $7.5 million in a Series A round. The company is bringing online the sales of intercity buses and flights, hotel stays, and sales of tickets for movies and cricket matches.
Skift Cheat Sheet:
We define a startup as a company formed to test and build a repeatable and scalable business model. Few companies meet that definition. The rare ones that do often attract venture capital. Their funding rounds come in waves.
Seed capital is money used to start a business, often led by angel investors and friends or family.
Series A financing is typically drawn from venture capitalists. The round aims to help a startup’s founders make sure that their product is something that customers truly want to buy.
Series B financing is mainly about venture capitalist firms helping a company grow faster. These fundraising rounds can assist in recruiting skilled workers and developing cost-effective marketing.
Series C financing is ordinarily about helping a company expand, such as through acquisitions. In addition to VCs, hedge funds, investment banks, and private equity firms often participate.
Series D, E and, beyond These mainly mature businesses and the funding round may help a company prepare to go public or be acquired. A variety of types of private investors might participate.
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Photo credit: Image of participants in A Week Awake, which offers "radical surf experiences for women" with the online marketing help of Easol, a startup. Easol / A Week Awake