Total amount raised
$15 Millions
Latest funding date
09/01/2022
Location
Title
TrovaTrip has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform specializes in organizing group travel experiences hosted by content creators.
Keep reading to explore the details of TrovaTrip's fundraising journey and the investors who believe in its vision.
What Is TrovaTrip?
TrovaTrip, founded in 2017, is based in Portland, Oregon. The company was established by Nick Poggi, Lauren Schneider, and Brandon Denham.
TrovaTrip specializes in organizing group travel experiences hosted by content creators, allowing them to connect with their communities through curated trips. The platform collaborates with local experts to design unique travel itineraries.
With a growing team, TrovaTrip currently employs around 50 people, all dedicated to providing exceptional travel experiences for both hosts and travelers.
How Much Funding Has TrovaTrip Raised?
- Seed Funding Round
- Amount Raised: $5 million
- Date: August 2021
- Lead Investors: PSL Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Early-stage development, product-market fit, and initial scaling efforts.
- Series A Funding Round
- Amount Raised: $15 million
- Date: September 20, 2022
- Lead Investors: Madrona
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance the platform, open access to more creators, enhance the platform for hosts, travelers, and operators, grow sales and marketing efforts, and expand the selection of itineraries.
Total Amount Raised: $20 million. Current Valuation: Not publicly disclosed.
Key Investors
- Madrona
- Details: Madrona is a venture capital firm based in Seattle, Washington. They focus on early-stage technology companies, particularly in the Pacific Northwest.
- Investment Focus Areas: Technology startups, cloud computing, machine learning.
- Notable Investments: Amazon, Smartsheet, Redfin.
- PSL Ventures
- Details: PSL Ventures is an early-stage venture capital firm that partners with entrepreneurs to build and scale technology companies. They are based in Seattle, Washington.
- Investment Focus Areas: Early-stage technology companies, software, digital health.
- Notable Investments: Boundless, LumaTax, Ad Lightning.
- Oregon Venture Fund
- Details: Oregon Venture Fund is a venture capital firm that invests in early-stage companies in Oregon and Southwest Washington. They support local entrepreneurs and startups.
- Investment Focus Areas: Early-stage companies, technology, healthcare.
- Notable Investments: Rigado, IOTAS, Bigleaf Networks.
- Elevate Capital
- Details: Elevate Capital is a venture capital firm that focuses on early-stage investments, particularly in underrepresented entrepreneurs. They are based in Portland, Oregon.
- Investment Focus Areas: Early-stage investments, diversity-focused startups, technology.
- Notable Investments: Hue Noir, RFPIO, The Wild.
- Portland Seed Fund
- Details: Portland Seed Fund is an early-stage venture capital firm that invests in startups in the Pacific Northwest. They provide seed funding and support to emerging companies.
- Investment Focus Areas: Early-stage startups, technology, consumer products.
- Notable Investments: Cloudability, Wildfang, Brandlive.
What's Next for TrovaTrip?
TrovaTrip stands at the cusp of significant growth opportunities. With plans to expand platform access to more creators, the company aims to tap into the burgeoning creator economy. This move could significantly increase the number of unique travel experiences available, catering to diverse interests and themes. Additionally, enhancing platform features and expanding itineraries across various destinations will likely attract a broader audience, further solidifying TrovaTrip's market position.
Future fundraising rounds, such as a potential Series B, could be on the horizon as TrovaTrip continues to scale. Strategic investments from travel industry giants or tech companies could also play a crucial role in its expansion. However, the company may face challenges such as maintaining quality control and managing scalability. Competition from other travel platforms and economic factors could also impact growth. Despite these hurdles, TrovaTrip's alignment with industry trends like experiential travel and tech-enabled solutions positions it well for future 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 TrovaTrip and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.
