Two startups in corporate travel raised money this week, along with another in short-term rentals.
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.
Five travel tech startups announced fundraises of more than $57 million this week.
>>Anyplace, a short-term rental company geared toward remote workers, has raised $10.3 million in series B funding. Of the total, $8.3 million was raised as equity, and the other $2 million was debt secured from Silicon Valley Bank.
The round was led by Launch Fund and its founder, Jason Calacanis, with support from CapitalX, Gaingels, Riverside Ventures, Potluck Ventures, MSIVC, FreakOut Shinsei Fund, Delight Ventures, and several individual investors.
Anyplace has now raised a total of $18 million.
The San Francisco-based startup said it offers bookings in fully furnished apartments for at least 30 days. The rentals come with setups for remote work that include high-speed internet.
The startup has properties in four cities — San Francisco, New York City, Los Angeles, and San Diego — with plans to expand in the U.S. yet this year. Anyplace partners with real estate companies Greystar, Avalon Bay, and UDR.
>>Lanes & Planes, a platform for corporate travel and expense management, has raised $35 million in series B funding. It was led by Smash Capital, with support from Battery Ventures, Coparion, DN Capital, and AllIron.
The company has now raised $45 million, according to Crunchbase.
Munich-based Lanes & Planes said its platform can handle travel booking, approvals, and expense management, and it can integrate into clients’ existing software systems.
The company said revenue has grown more than nine times since it was founded in 2022.
Brad Twohig, managing partner of Smash Capital, said in a statement that he expects business travel to top pre-pandemic levels next year, but the sector of travel booking is generally “dysfunctional and inefficient.”
Daniel Nolte, co-founder of Lanes & Planes, in a statement: “We constantly get feedback, especially from our new customers, on how Lanes & Planes has made them more efficient, in terms of money saved, but also in the time they save from making internal administrative tasks less painful and smoother.”
>>It’s Good, a social media app for restaurant reviews co-founded by John Legend, has raised $5 million in pre-seed funding led by Lightspeed Venture Partners.
>>Apartool, a platform for corporate housing, has raised €5.5 million ($5.8 million) in a series A funding round.
It was led by Roch Ventures and Barlon Capital, with support from Finaves, Telegraph Hill Capital, Iberis Capital, and others.
Barcelona-based Apartool said it provides furnished apartments for business travelers who are on trips for more than two weeks. Booking is accessible to corporations and corporate travel agencies.
Its clients have primarily been in sectors including finance, consumer goods, and retail. Clients include Air Liquide, Endesa, FGC, Repsol, Siemens, and Yazaki.
The company has already signed agreements to host service teams in Paris for the next Olympic Games, as well as teams traveling for America’s Sailing Cup, according to Apartool marketing director Georgina Rifé Domènech.
The company has operations in Spain, France, Portugal, and Italy, with plans to move into the UK and Germany next. It also has operations in Dubai, from where it plans to expand further into the Middle East.
>>Tourhub, an online travel agency for multi-day tours, has raised £1 million ($1.2 million) from Waterspring Ventures and the Development Bank of Wales.
Wales-based Tourhub said its platform allows travelers to compare a range of options and prices in one place. The company works with more than 800 suppliers worldwide.
The startup plans to add more tour operators, river cruise lines, and expedition cruises.
The company said it provides its content to other travel agents and publishers. About 60% of its business from the U.S. and Canada, with plans to expand to Australia by the end of 2023.
|Anyplace||Series B||Launch Fund||$10.3 million|
|Lanes & Planes||Series B||Smash Capital||$35 million|
|It’s Good||Pre-seed||Lightspeed Venture Partners||$5 million|
|Apartool||Series A||Roch Ventures and Barlon Capital||$5.8 million|
|Tourhub||Unspecified||Waterspring Ventures and Development Bank of Wales||$1.2 million|
Skift Cheat Sheet
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: Anyplace has properties in San Francisco, New York City, Los Angeles, and San Diego. Anyplace / Anyplace