Venture capital companies Heartcore Capital and Forerunner co-led the Series A funding. Fora, which has raised a total of $18.5 million to date, aims to use the funding to invest heavily in infrastructure, including its own booking management system. Co-founder Evan Frank said the funds will also help the company recruit more prospective travel agents, as nearly half of U.S. travelers plan to use agents coming out of the pandemic. Fora estimates that 97 percent of its roughly 500 advisors had never previously sold travel.
“We are looking to create an environment to empower thousands — hundreds of thousands — of people to participate in the travel industry in a way not previously was not possible,” said Frank. “We want to welcome the next 100,000 travel agents into the industry.”