“In these four years Travel Appeal has grown exponentially and this round marks a decisive stage” reveals Mirko Lalli, founder and CEO of Travel Appeal, in response to achieving series A round funding underwritten by the Indaco Ventures I Fund and Airbridge Equity Partners.
Travel Appeal records a new €3 million capital increase.
We are excited to announce we have recorded €3 million in the Series A round. “This growth marks a decisive stage for us and allows us to face the challenge of the most mature international markets much quicker with our unique and constantly updated technology. In the coming months, we will be engaged in a tight schedule to impose ourselves as a partner of reference for tourism operators in Europe and beyond.”
The series A round was directed by Indaco Ventures I Fund and Airbridge Equity Partners. The new funds will be used for the further development of technology and acceleration of the internationalization process. Today, our artificial intelligence solution for the travel industry is utilized by over 4 thousand customers throughout Europe, including hotels, restaurants, museums, retail and entire destinations. Our goal is to expand our client base to include more countries involved in leisure and business tourism, both throughout Europe and in driving markets, such as Dubai.
“With Travel Appeal, Indaco Ventures I continues to support the development of companies with a high technological content and strong growth potential”, says Antonella Beltrame, partner of Indaco Venture Partners Sgr. “The company develops proprietary business intelligence solutions for the travel world that, through the processing of big data and the use of artificial intelligence, maximize the performance of hotels and destinations. The union between the strong technical skills of the founder and the technological ones of the team represents a great strong point of the start up.” “This investment”, continues Antonella, “was also achieved thanks to the partnership that Indaco Sgr has made with growITup, the Open Innovation platform created by Cariplo Factory – innovation hub created by the Cariplo Foundation – and Microsoft Italia.”
“The artificial intelligence on which the business model of Travel Appeal is based has and will increasingly have an expanding impact in all sectors, from tourism, health, manufacturing, to the world of finance, so much so that it becomes the strategic priority of many Italian CEOs in the field of digital”, comments Silvia Candiani, CEO of Microsoft Italy. “Through growITup and with the support of Indaco, we are pleased to be able to contribute to the growth and development of Travel Appeal on the international scene: in Italy we need digital startups, which can exploit the cloud, enhance big data and release the benefits of artificial intelligence with maximum security and privacy, so as to intercept better and faster the needs of customers and offer them the best possible experience.”
The Smart Brain for the Travel Industry.
Founded by Mirko Lalli in 2014 with the help of H-FARM, Travel Appeal is known as the B2B startup specialized in Data Science and Artificial Intelligence for the travel industry. We collect and analyze online data from the travel sector in real time through an Artificial Intelligence system. In turn, we generate that data into practical solutions allowing operators and destinations to make more effective decisions and improve their digital positioning, with a consequent positive impact on turnover, online reputation, revenue and business operations.
In addition to data, reports and research, Travel Appeal provides an entire ecosystem of products for businesses of all sizes, from individual structures (hotels, B&Bs, campsites, restaurants, museums) to groups, chains, consortia and territories (DMO, DMC, tourism agencies). We monitor the data of over 1 million properties annually from hotels, restaurants, museums, attractions, retail shops and entire destinations. Our latest products have been developed to assist all professionals across various sectors, from the corporate level to the retail level and include: Conversations, Certificate and Mobile Coach.
Conversations is a “virtual assistant” that allows operators to improve the interaction with their guests by automating the management of requests and customizing offers according to individual guest needs. The Certificate is, alternatively, a new widget that allows future guests to have the most relevant information to complete their hotel booking. At a glance, customers will see the satisfaction and ratings of other travelers and the top reviews. The Mobile Coach app is designed for the on-the-go manager. With the Coach, managers can improve the performance of their business and coordinate with their team from a convenient mobile app.
We are extremely proud of the progress made over the past four years and we look forward to continuing to pursue our goals and vision in the future.