Travel Appeal adds €3M in funding to spread its data science sauce
10/08/2018|11:06:33 AM|PhocusWire

Data science specialist Travel Appeal has raised €3 million in funding. 

The Series A round involved Italy-based Indaco Ventures I and Airbridge Equity Partners. 

The funds will go towards further technology development as well as international expansion.

Travel Appeal, founded in 2014, collects and analyzes online data such as reviews, social media, pricing information and weather to help travel companies and destinations make more informed decisions.

In a statement, Travel Appeal says it has more than 4,000 customers across Europe including hotels, museums and tourist destinations.

It adds it wants to increase its user base and the countries it is present in as well as double turnover year-on-year to exceed €25 million by 2021.

CEO Mirko Lalli says the funding enables the company to "face the challenge of the most mature markets much quicker."

Travel Appeal raised funding of €700,000 last year from three international investors after being originally backed by innovation hub H-FARM with a pre-seed investment of €250,000.

The company has 30 employees and offices in Italy as well as in London and Amsterdam. 

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