bd4travel, the predictive analytics platform for the travel industry, has secured $4.2 million in Series A funding, the company announced today.
It’s the first Series A funding round by any company within the Traveltech Lab, a new London-based incubator for travel tech companies that began operations in March 2015.
The Traveltech Lab was created by London & Partners, the Mayor’s promotional company for London, in partnership with The Trampery, creators of premier innovation spaces in the city. The incubator aims to help London become the number one city in the world in technology for the travel tech industry and to support the development of companies that could become the next lastminute.com, Citymapper or Expedia.
The funding round for bd4travel was led by Hoxton Ventures with participation from Talis Capital and Robin Klein of The Accelerator Group. bd4travel also announced that Simon Breakwell, the founder of Expedia, will join the company as Chairman.
bd4travel is a real-time personalisation platform for the online travel industry. It profiles individual visitors to websites by analysing their behaviour, helping the travel industry to improve customer experience.
Andy Owen-Jones, CEO of bd4travel, said: “When our customers see that we can generate rich user profiles and predict the travel wishes for anonymous site visitors, when all they’ve seen before is their traffic numbers, they tend to be pretty blown away. The future of the travel market is hyper-personalisation, where users are appreciated and serviced as individuals and travel offers are recommended according to their actual desire”.
Andrew Cooke, Chief Operating Officer at London & Partners, said: “This funding round is great news both for bd4travel and for the Traveltech Lab. It shows that companies are able to develop their smart ideas in our incubator, and that investors are keen to back those businesses so that they can grow to the next level and become significant players in the growing travel tech industry.”
Hussein Kanji, partner at Hoxton Ventures, which backed the funding round, said: “We back teams which have the opportunity to become global successes based on game changing technology. bd4travel is well positioned to be disruptive in one of the world’s largest industry segments.”
The Traveltech Lab was launched by HRH The Duke of York, KG, in March. Its high-spec workspace, designed for 30 people, is co-located in the offices of London & Partners and is designed and managed by The Trampery.
In addition to lead partner Hotelbeds Group, the Traveltech Lab is also supported by Gatwick Airport. The first group of companies working in the lab along with bd4travel include PhotoSpotLand, Lulutrip, Localoids, Epteca, MICEbook, Timelooper, Great Little Places, Wooia, Touriocity, Beaconia, GreatDest and Much Better Adventures.