Travello, a social networking app for travellers, today announced it closed a AUD $5M capital raise from a consortium of private investors to support its global expansion. The new investment brings the total equity raised by the startup to AUD $6.4M.
Founded in 2015 by two footy mates from northern Queensland, Travello connects travellers from all corners of the globe, recommends experiences and allows users to browse and book more than 50,000 activities. The social networking app is currently used by more than 350,000 travellers in 180 countries. In July 2018 alone, Travello recorded 1.8M events on the Travello feed.
Travello co-founder, Ryan Hanly, said the investment comes at the ideal time to help grow the platform globally.
“In order for us to continue our rapid growth, we need a presence in our key markets, initially the UK and Europe. This investment will kick-start that process by allowing us to put resources on the ground across product, engineering, customer care and marketing ,” he said.
The team will also use the funds to further enhance the app’s features and its SaaS marketing platform, BlueTee. Comprised of a suite of technologies, BlueTee enables travel businesses to better connect with their customers pre, in-destination and post travel through location based geo-fences to pinpoint highly targeted push messages.
“The idea behind our biz-tech solution is to help travel businesses reach travellers in-destination through customer touch-points that were previously unattainable due to the nomadic nature of travellers and for these businesses to use Travello as a social extension for their brands,” explains Mr Hanly, adding: “Unlike TripAdvisor, which started as a social platform but morphed into a marketplace, our community will always be at the heart of Travello.”
Travello’s success can be attributed in part to its ability to grow and sustain a connected tribe of passionate travellers which drives the core of its business. Research shows that travelers remain plugged into social media while on vacation. An estimated 72% of people post photos on social networks while traveling, and 70% of travelers update their social media status while vacationing.
Commenting on their success Shark Tank’s Steve Baxter said “As Queensland’s Chief Entrepreneur, it’s exciting to see local startups become global players. Brisbane is a growing hub for innovation, especially having recently developed ‘The Precinct’, and investments in homegrown startups like Travello are further proof that the city is an epicentre for innovation. It’s great to see Travello taking on the world from its office here in Fortitude Valley; it is well on its way to becoming the world’s largest online community for travellers.”