Florence-based Travel Appeal raises €3M to help professionals in the travel industry with Data Science and AI

Travel-Appeal-team

Travel Appeal, the startup specialized in Data Science and Artificial Intelligence for professionals in the Travel Industry, has closed a new capital increase worth €3 million. The Series A round was led by Indaco Ventures I (a news fund by Fondazione Cariplo, Fondo Italiano d’Investimento and Intesa Sanpaolo), and joined by Airbridge Equity Partners.

The Italian startup collects and analyzes online data from the travel sector in real time. Through an Artificial Intelligence system, Travel Appeal is able to transform the data into practical advice for operators and destinations to make more effective decisions and improve their digital positioning, with a consequent positive impact on turnover, management of priorities and business operations.

The fresh capital will be used for the further development of technology and the acceleration of the internationalization process. Today, the Travel Appeal artificial intelligence solution is implemented by over 4 thousand customers throughout Europe, including hotels, restaurants, museums, retail and entire destinations. Travel Appeal’s goal is to increase the network of users and operates in countries involved in leisure and business tourism, with a diffused presence throughout Europe and in driving markets, such as Dubai. Travel Appeal aims to double the turnover year on year and exceed €25 million by 2021.

Mirko Lalli, the CEO of Travel Appeal, stated: “This round marks a decisive stage and allows us to face the challenge of the most mature international markets much quicker with our unique and constantly updated technology. In these four years Travel Appeal has grown exponentially, in the coming months we will be engaged in a tight schedule to impose ourselves as a partner of reference for tourism operators in Europe and beyond.”

Antonella Beltrame, partner of Indaco Venture Partners, commented: “With Travel Appeal, Indaco Ventures I continues to support the development of high-tech companies in markets with growth potential. The company develops a proprietary business intelligence solution for the travel industry that, through the processing of big data and the use of artificial intelligence, maximizes the performance of hotels and destinations. The synergy between the outstanding know-how in travel industry of the founder and the technological ones of the team, represents an asset.”

Travel Appeal was founded by Mirko Lalli in 2014 with the help of H-FARM. Since then, the ambitious team has developed its own Artificial Intelligence solution that collects and analyzes online travel data in real time, transforming that data into updated and immediately applicable strategies. These strategies are targeted for tourism operators to improve their online positioning and reputation, with a consequent positive impact on turnover and business operations. All this translates into a product designed in different ways of use and with different functionalities. Today the entire Travel Appeal ecosystem (Dashboard, API and App) is able to monitor, every year, the web reputation and digital strategies of over 1 million properties among hotels, restaurants, museums and retail. Travel Appeal has a total of 4 offices, two in Italy – Florence and Treviso – one in Amsterdam and one in London, and employs 30 people.

MIGHT BE INTERESTING FOR YOU: