15below gets investment from LDC to accelerate growth

15below, a United Kingdom-based provider of communications software for travel suppliers, has received what it calls a “significant investment” from LDC, the private equity arm of Lloyds Banking Group. 

The amount of the investment is not being disclosed, but according to the LDC website its investments usually range from between £10 million and £50 million in each transaction.

Founded in 2000, 15below currently works with more than 60 airlines, rail operators, travel agencies and travel management companies around the world, including British Airways, Cathay Pacific, CWT and TUI, as well as being a strategic partner to global airline software providers Amadeus and Navitaire. 

Its solutions enable travel companies to provide operational updates on travel itineraries, booking confirmations and boarding passes, pre-departure communications as well as real time updates on schedule changes and unplanned disruption while removing the risk of human error in communications.

“We put our customers and their passengers at the heart of everything we do, and our ultimate goal is to help travel companies go above and beyond when it comes to communications and customer service. We’re incredibly proud of the business we’ve built over the last two decades and the strength of our proposition,” said Nicholas Key, co-founder and CEO of 15below.

“LDC is known for its commitment to supporting growth and innovation in businesses like ours. Their ethos of placing a high value on people and culture resonates deeply with us at 15below, making them the perfect partner as we embark on this next phase of our journey. This partnership is not just a testament to our past achievements, but a vote of confidence in our vision for the future.”

15below said it plans to use the investment for further development of its software and to support existing and new clients as it embarks on a five-year growth strategy. 

“The importance of technology in providing seamless, hassle-free communications to customers across sectors continues to increase, and this is particularly evident in the global travel industry which has bounced back significantly since the COVID-19 pandemic,” said Aylesh Patel, partner and head of the south region at LDC.

“Nick and the team at 15below are incredibly ambitious. They’ve not only developed a platform that meets this growing need but have cultivated a culture where talent can thrive and together this is fuelling the company’s growth. We’re excited to invest and support them to extend their capabilities, bringing to life more of the exciting ideas in their product roadmap.”

LDC focuses its investments on companies based in the U.K. The company said it is committed to investing in at least 100 companies over the next five years.