Through digital media, events, data and more, American Inno is building the largest network of local innovation, cultivating engaged startup, tech and entrepreneurial communities in 11 (and counting) markets across the country. In a new bi-weekly series, Inno's writers will collectively select an industry or theme and highlight a local startup operating in the space.
Below, in honor of one of the busiest travel weeks of the year, Inno’s newsroom weighs in on the travel and hospitality startups making waves in their cities and states.
Airbnb, the hospitality and homestay service behemoth — er, unicorn — was just the harebrained product of two cash-strapped San Franciscans looking to make a quick buck in 2008. Fast forward to 2018; it's valued at $38 billion, entered the cultural lexicon and is the staple of many a travelers' itinerary.
It's not the only travel and hospitality startup to make a splash in a big way (think TripAdvisor, Klook, Away and arguably Uber/Lyft, to name a few). In fact, TechCrunch recently reported that these types of companies have raised more than $1 billion in venture capital funding in the past five years alone, signaling a unique season of travel startups, well, "taking off."
It's not just talking heads noticing, either.
“Something is really happening in the industry; something bigger than us,” TripActions co-founder Ariel Cohen told TechCrunch after closing a $154 million Series C financing. “Different startups are identifying the opportunity here and the fact that companies want to make sure their employees are happy while they are on the go. That’s why you see investments in companies like Brex and TripActions.”
Below, the American Inno examines how this trend is impacting their unique ecosystems, highlighting an especial travel and hospitality startup that's making waves.
MADISON // ATLANTA INNO
If you’re a very particular traveler (like me), you’ll probably get excited to hear about Koridor, an Atlanta-based startup that basically lets you pick your hotel room like a seat on an airplane. The startup partners with hotels, which then gives guests the option to physically see and pick the exact room they want, rather than just picking a room based on view or bed-size. Think about it: You get to decide if you want to be further from the ice machine or elevators — or even if you want different amenities (such as a fireplace, a bigger closet or a double-sized sink) — and you can check all these things out through a 360-degree virtual tour of the exact room. It’s pretty stellar. The company has already partnered and is operating with hotels in the New York City, Washington, D.C. and Palm Springs area.
BRENT // AUSTIN INNO
Austin's lucky to be both a town with plenty of tourism and one that has several high-flying travel startups, dating back to the founding of HomeAway in 2004. Flash forward to 2018, and HomeAway is in Expedia's network and startups like Turnkey Vacation Rentals are crushing it. But, for this question, I think the best answer is Localeur, a site, app and publication that uses local expertise and content to help consumers find spots that locals really love. So, instead of looking at rankings on Trip Advisor, you can see Caitlin's guide to a perfect Sunday in Austin, stacked with her favorite movie theaters, farmers markets and the like. Plus, Localeur has landed partnerships with JetBlue (to bring local content to its flyers) and Match.com (to provide a new way of meeting people in different cities). Localeur was co-founded by its CEO, Joah Spearman, whose LinkedIn articles provide some great insight into running a startup, raising funding and what it's like being an African-American founder in Austin.
Photo Credit: Stephen Zeigler, Getty Images
Lucy and Sri // BostInno
We’ll definitely be watching Lola carefully in 2019. Here's a few reasons why: Mike Volpe, who is often described as the best marketer in Boston, took over as its CEO this year. The company also expanded its office space. Then, there's its recently signed partnership with American Express Global Business Travel, under which American Express GBT will resell Lola’s travel management software to its own customers. The exchange? A wide range of travel deals and perks for its customers.
Katherine // Chicago Inno
I’m watching Journera, a startup that’s making a software platform to create seamless travel journeys. Founded in 2016 by Jeffrey Katz, the founder of Orbitz Worldwide, Journera’s software allows travel-related companies to communicate with each other and provide end-to-end travel journeys for their customers. For example, if an individual’s flight is delayed, the car rental, hotel and dinner reservations would all automatically adjust to the new flight schedule, eliminating the need for the passenger to contact all the parties individually. And I’m not the only one noticing how cool they are. Journera raised $9 million in a Series A round over the summer.
Courtney // Cincy Inno
Looking to “drive to the world’s most interesting places by streamlining discovery, planning, booking, and navigation into a single free platform that syncs seamlessly across devices?” Cincy-based Roadtrippers is the tool for you. Over six rounds, the company was able to raise $10.7 million in funding since 2011. It’s had a big year, too; in February, Roadtrippers was purchased by TH2 (although it still operates in Cincy).
Nick // Colorado Inno
As a millennial who likes to travel, I was drawn in by TripCents claim as “a travel and savings app built for the millennial traveler.” The app enables users to build a travel savings fund and receive personalized trip recommendations for both the traveler and their friends, all based on trip preferences and available budget. TripCents hit the app store this spring and has a 4.6 rating over 121 reviews.
Kieran // DC Inno
D.C.-based WhyHotel has, in my opinion, come up with the most innovative hospitality concept since Airbnb. It runs pop-up hotels in newly built apartment and condo buildings. As the units are leased up, the hotel gradually trims its presence and eventually leaves the building. It’s run only a few pop-up hotels so far, but with the backing of real estate giant Vornado and a $4 million funding round this summer, expect to see some WhyHotels in your city in 2019.
Maddy // Minne Inno
Travel Labs is relatively new on the scene, but worth keeping an eye on. The startup uses artificial intelligence to make it easier for corporate travelers to arrange flights and hotel stays. It recently closed on $500,000 (exceeding its original goal of $400,000) in funding to ramp up product and business development efforts. Travel Labs was also one of 11 companies to present at the Beta Showcase during Twin Cities Startup Week in October, one of the week’s most popular events.
Courtney // Rhode Island inno
The answer here, I think, is Upserve, the restaurant management company that also happens to be Rhode Island’s top-funded start up. It’s had a bananas year, what with the acquisition of inventory management platform SimpleOrder and the addition of new CEO Sheryl Hoskins (formerly of ACTIVE Network) earlier this month.
Kieran // Richmond Inno
OccasionGenius, a Richmond-based event technology startup, is reimagining the hotel experience to make it event-based and personalized. It raised $1.1 million in seed capital earlier this year to pivot its model. It also used those funds to build a new technology platform that pulls public data from event-booking sites and web calendars to give hotel guests customized lists of things to do around town. In Richmond, over 18,000 users have created an “interest genome” on OccasionGenius’s site by filling out a preferences survey, and founder Nate Marcus said it’s already turned down two acquisition offers.
JIm // Wisconsin Inno
Milwaukee-based startup Frontdesk is like Airbnb, but for business travelers. The startup provides corporate housing for business travelers, connecting workers with homes and apartments rather than hotels. The startup’s investors include Milwaukee Bucks co-owner Marc Lasry and Madison-based venture capital firm Lancaster Investments.
