We’re thrilled to announce the completion of an $8 million Series A funding round which will fuel our mission to become a global growth engine for travel and hospitality brands.
The round was led by Reach Markets, an Australian private equity and financial services company. Sentor Investments, a private investment firm based in Australia, Velocity Ventures, a Singaporean investment fund focused on investing in innovative solutions in the tourism and hospitality sectors, and Lucerne Investment Partners, an Australian private investment group, also participated.
We have made significant strides in our global expansion with commercial agreements with dozens of international travel brands, including a strategic commercial agreement with Amadeus, the world’s leading travel technology provider, OYO Vacation Homes, one of Europe’s leading holiday home rental companies, and TravelUp, UK’s leading travel arrangements company. The capital raised will be used for product development, accelerating growth in international markets, as well as expanding Joyned’s global footprint in new verticals.
Joyned provides a cross-website, live experience for customers discussing and booking trips together, at the same time empowering travel sites to own their shoppers’ natural social engagements and significantly increasing their conversion rates. We aim to continue to make travel booking a seamless and collaborative experience.
Joyned’s clients are reporting increases across a wide range of metrics (KPIs). By using social revenue technology, the average booking value of users grows by an impressive 25%, and the conversion rate increases fourfold.
The platform addresses the needs of the traveler to experience the holiday booking process together. We are the first to bridge the gap between users’ desire for shared experiences and the possibility of doing so. Together with our partners, we are making a significant difference to the global hospitality industry, which is expected to roll over $4.6 trillion by the end of the year. The power of the solution is evident in the agreements signed with the world’s leading travel brands and the impact the solution has had on their businesses.
We’re super proud of this vote of confidence from the leading funds joining our journey, and we can’t wait to see what the future holds for Joyned.
