Launchtrip Raises $3.8M Seed Investment
New York: The world’s first Together-Travel startup, Launchtrip announces today the close of its seed investment round totaling $3.8M USD, including funding raised by Axis Capital. Launchtrip plans to launch its new app in beta this Spring 2021.
The emergent company has designed a platform that elevates the group travel experience, making the entire process of booking a trip seamless from end to end. Using its intelligent platform, groups can find accommodations, book restaurants, and split costs all within one simple-to-use app. Launchtrip will offer over 200,000 hotels in seven launch cities around the United States to start and brought on Resy/American Express as its official restaurant booking partner. By the end of the year, Launchtrip will become the first app to offer scaling group travel discounts online and an industry-changing rewards system. The user-experience-obsessed startup’s mission is to make Launchtrip the best platform for group trips, taking on the bigger, traditional industry players.
Launchtrip had begun piloting an early stage MVP last year before COVID-19, generating just over $1M in sales. When the pandemic hit, the company was forced to close pilots and identify a sustainable path forward. “With every catalyst and problem, there comes growth. The pandemic gave us a podium that didn’t exist before,” says Founder and CEO Julian Ing. “Consumers want travel to come back just as badly as the hospitality space. With travel coming to a near halt, we took the opportunity to refine our product, build better strategies and bolster financing.”
In addition to securing funding from Axis Capital Corporation Holdings, Launchtrip has brought on a seasoned board of advisors which include some of the industry’s top experts in the technology and travel spaces including Taleeb Noormohamed, Michael Drever, Kathleen Reaume, Terry McBride, and Mark Spencer. The board members held previous leadership roles within HomeAway (Expedia), MealPal, and Tripping.com.
