With disruptors such as Airbnb and HotelTonight taking the retail travel industry by storm in recent years, there is now an opportunity to make waves in the corporate travel market.
Whilst the retail travel market has seen radical change over the last decade, resulting in more flexibility and competitive pricing for its users, the corporate sector has been slow to adopt new technologies and drive efficiencies. Tripism is a Bedfordshire based start-up looking to change this.
By offering a platform that enables corporate travellers to have more influence over the elements of their trip, whilst at the same time, offering cost and resource savings to business owners and managers, Tripism hopes to fuel the growth in ‘open booking’ i.e. where employees book travel outside of their employers’ arrangements with third party travel managers.
Tripism will collect information about business travel experiences and connect it with LinkedIn profiles, creating a platform that is able to leverage the collective travel data and knowledge of an individual’s existing network of business contacts to help inform their own travel decisions.
Adam Kerr, Tripism Founder and CEO says: “By giving individuals this collective knowledge, based on the recommendations of people already known to them, our platform will empower business travellers to make faster and better informed travel, accommodation, meeting and entertainment decisions. By enabling people to share their experiences and exchange travel hacks, planning trips is simpler and travelling becomes a more productive and enjoyable experience.”
In order to help the company further develop and commercialise its offering, it has successfully secured £150,000 in its first round of fundraising. A mix of angel investment, alongside £50,000 from the Bedford Business EIS Fund, will support it to progress from start-up to revenue generation, before seeking Series A funding in 2016.
Avent Bezuidenhoudt, Senior Fund Manager at The FSE Group, which manages the Bedford Business EIS Fund remarks: “Tripism has achieved a great deal since its inception last year, notably, a contract with Microsoft to develop a dedicated app for the global corporation’s 60,000 frequent travellers. This, along with other potential partnerships currently under discussion, provide a sound base for Tripism to grow exponentially in the near future. We are pleased to be supporting the company at this exciting time and look forward to helping them achieve disruptor status in the corporate travel market.”
The Bedford Business EIS Fund has been developed as a practical initiative for sustainable job creation in Bedford. Investments are made in businesses based in the region that can demonstrate great potential for high growth. An Advisory Board of local business people is chaired by Justin Phillimore, CEO of Charles Wells and includes Ian Carlisle, former MD of Autoglass, Dougie Hunter, Chief Executive of ARA, William Naylor, formerly Commercial Director of Gibbs & Dandy and Nick Kier, Partner at Lane and Holmes.