Total amount raised
$56.2 Millions
Latest funding date
10/1/2019
Location
Duffel has successfully raised significant funding over multiple rounds, with notable investors such as Index Ventures and Blossom Capital backing the company. The platform offers a comprehensive API to sell travel services, simplifying the complexities of booking flights, stays, and travel extras.
Keep reading to explore the intricacies of Duffel's fundraising journey and the investors supporting this innovative travel tech platform.
What Is Duffel?
Founded in 2017, Duffel is a travel tech company based in London, England. The company was established by Steve Domin and offers an API to simplify the process of selling travel services.
Duffel's platform allows businesses to search, book, and manage flights from multiple airlines, providing real-time pricing and availability. The company also offers features for managing customer refunds and cancellations.
With a team of 51-100 employees, Duffel continues to innovate in the travel industry, making it easier for businesses of all sizes to offer comprehensive travel booking experiences to their customers.
How Much Funding Has Duffel Raised?
- Seed Round
- Amount Raised: $4.7M
- Date: August 2018
- Lead Investors: Blossom Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build the initial version of Duffel's API and establish the company.
- Series A
- Amount Raised: $21.5M
- Date: June 2019
- Lead Investors: Benchmark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop Duffel's API and expand its market reach.
- Series B
- Amount Raised: $30M
- Date: October 2019
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch Duffel's travel platform, hire more engineers, and expand operations in North America and Europe.
Total amount raised: $56.2M. Current valuation: Not publicly disclosed.
Key Investors
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies. They support businesses from seed stage to growth stage.
- Investment Focus Areas: Software, e-commerce, fintech
- Notable Investments: Dropbox, Slack, Robinhood
- Benchmark
- Details: Benchmark is a venture capital firm known for its early-stage investments in transformative technology companies. They have a history of backing companies that become industry leaders.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Uber, Twitter, Snapchat
- Blossom Capital
- Details: Blossom Capital is a venture capital firm that focuses on early-stage investments in technology companies. Founded by Ophelia Brown, they aim to support high-growth potential startups.
- Investment Focus Areas: Early-stage tech companies, high growth, innovation
- Notable Investments: Checkout.com, Tines, Frontify
- Kima Ventures
- Details: Kima Ventures is a global venture capital firm that invests in early-stage startups. They are known for their extensive portfolio and rapid investment pace.
- Investment Focus Areas: Early-stage startups across various industries
- Notable Investments: TransferWise, Zenly, Front
- Sequoia Capital
- Details: Sequoia Capital is a renowned venture capital firm that has funded many successful technology companies. They focus on long-term partnerships with founders.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Apple, Google, Airbnb
What's Next for Duffel?
As Duffel continues to expand, the opportunities ahead are vast. The company is poised to revolutionize the travel booking industry by providing a seamless API that connects travel agencies directly to airlines' reservation systems. This modern approach not only simplifies the booking process but also opens doors to new markets in North America and Europe. With the travel sector accounting for a significant portion of global economic activity, Duffel's potential for growth is substantial.
Future fundraising opportunities seem likely as Duffel scales its operations and integrates more airlines. The successful Series B round, which brought their total funding to $56 million, sets a strong foundation for further investment. However, challenges such as competition from established players like Amadeus and Sabre, and the technical complexities of integrating with various airline systems, could pose hurdles. Navigating these challenges while maintaining service quality will be crucial for Duffel's continued success.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Duffel and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
