Portland travel startup Modern Adventure secured $4.8 million from investors to build out its team and travel offerings.
The company connects travelers with curated trips led by people behind popular brands such as chef-owned restaurants, consumer goods or craft beverage makers. The idea is people can travel with someone who has an expertise or passion for a part of the world.
This Series A included existing investor Seal Rock Partners and new backers Natty Zola of Matchstick Ventures and Nate Abbott of Mischief Ventures. Both Zola and Abbott invested in their individual capacity. The company first raised a seed round led by Seal Rock in 2017.
“Modern Adventure believes experiences are table stakes to building a relationship with the consumer, and we continue to see traction in our core business of talent-hosted trips and our expanding portfolio of private group retreats around the world,” said founder and CEO Luis Vargas in a written statement. “With consumer demand for travel surging, we expect to see sustainable growth for the coming years.”
Like other travel companies, the early part of the Covid-19 pandemic brought Modern Adventure to a halt. But by late 2021, Vargas was predicting a resurgence of travel due to pent up demand during quarantine.
The company was started in 2017 and has run hundreds of trips in over 20 countries. Some of its currently sold-out trips include Portugal with chef Gregory Gourdet of Kann, Republic of Georgia with Kachka restaurant owners Bonnie Morales and Israel Morales, and Oaxaca with chef Mei Lin.
Modern Adventure has a team of 18 and the company is using some of this capital for hiring. It’s looking to fill positions in trip development, operations and business development.
“We've invested in Modern Adventure since day one, and we are excited to participate in this round as the team continues to scale an exceptional brand and their world-class experiences around the globe. Their future looks bright,” said Jonathan Cohen, co-founder and partner at Seal Rock Partners.
The funding also helps the company with its goals for sustainability and community. The company is both a certified B Corp and Climate Neutral Business. Last year, it launched the MO/AD Foundation, a nonprofit to directly support mission-driven causes and charities around the world, the company said.
