TrovaTrip Announces Expansion Plans With $15 Million Funding

Date:

Key Takeaways

  • TrovaTrip secures $15 million in Series A funding, bringing total capital to $20 million.
  • The platform connects hosts with travelers, enabling them to plan and sell multi-day experiences in 49 countries.

Portland, OR–TrovaTrip announced in a news release its $15 million Series A financing.

The round, as per the report, was led by Seattle-based Madrona Venture Group with participation from existing investors, PSL Ventures, Oregon Venture Fund, Elevate Capital, and Portland Seed Fund.

“We’re excited for our partnership with Madrona and their breadth of experience working with exceptional companies,” said TrovaTrip co-founder and CEO, Nick Poggi in the release, adding that the company had only “scratched the surface” of possibilities.

“With over 15,000 Travelers booked to date, our hosted experiences are resonating with customers,” Poggi added in the release.

This financing round brings the total capital raised to $20 million.

Scott Jacobson from Madrona Venture Group joined the TrovaTrip board.

“We believe in this leadership team and business, and we’re equally excited about the company’s innovative approach to travel and empowering creators with a compelling new revenue and engagement opportunity,” Jacobson noted in the release.

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TrovaTrip’s Innovative Approach

TrovaTrip is a marketplace travel business platform allowing creators or “hosts” to plan and sell multi-day experiences to their virtual communities worldwide.

Hosts can curate a trip and offer it to the general public using a network of certified operators and local guides.

Hosts set their trip price, which allows them to pick how much they earn. TrovaTrip then provides a landing page for Hosts to edit, publish, and promote their trip to begin accepting bookings. Hosts can also leverage the platform to set up email marketing and promote across their various social channels.

A Unique Travel Experience

TrovaTrip currently offers its services in 49 different countries, and the various activities they offer range from hiking & outdoors, food & beverage, body positivity, LGBTQ+, health & wellness, and more. The platform handles payment processing, customer support, traveler management, and communication with ‘operators’ and covers the ‘host’ with free insurance during the trip.

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“There is a real hunger for this type of experience, especially for those that have never tried group travel or hesitated to travel solo in a group setting,” Poggi noted in the release. “When travel is centered around a common topic and creator, it brings together like-minded individuals resulting in fast connections and unforgettable experiences.”

What We Think

TrovaTrip’s Series A funding led by Madrona Venture Group highlights the platform’s appeal in the travel industry. With this significant investment, TrovaTrip is well-positioned for further growth and expansion of its unique travel offerings.

Check out the original press release.

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