Joyned, a burgeoning travel-tech start-up, has successfully concluded an $8 million Series A funding round. The investment, led by Reach Markets, a notable Australian private-equity and financial-services company, along with contributions from Sentor Investments, Velocity Ventures, and Lucerne Investment Partners, underscores the confidence in Joyned’s potential to reshape the travel industry, Joyned said in a press release.
At the core of Joyned’s offering is its platform, which enables users to collaboratively discuss and plan trips directly on the website, fostering a seamless and inclusive travel booking experience. This feature, coupled with the platform’s ability to provide insights into the customer booking journey through AI-driven analytics, has garnered attention from both users and industry stakeholders.
The positive impact of Joyned’s platform is reflected in the improved performance metrics reported by its clients, including increased conversion rates and average transaction size. Through personalized deals and enhanced engagement, Joyned said it aims to empower travel sites to better serve their customers while driving business growth.
Global hospitality industry is worth trillions
“The platform we have developed addresses the travelers’ need to experience the holiday booking process together,” Joyned CEO Jonathan Abraham said. “We are the first to bridge the gap between users’ desire for shared experiences and the possibility of doing so.”
The global hospitality industry is expected to roll over $4.6 trillion by the end of the year, he said.
“The power of our solution is evidenced by the agreements we have signed with the world’s leading travel brands and the impact the solution has had on their businesses,” Abraham said.With several commercial agreements already in place with leading travel brands, Joyned said it plans to utilize the funding to further develop its product, expand its presence in international markets, and explore new growth opportunities.