TripWorks, a booking and automation solution for tours and activities operators, has announced Series A funding of $6 million.
The investment in the U.S.-based company, which was led by Spring Mountain Capital, will enable TripWorks to expand its artificial intelligence (AI) and business intelligence (BI) capabilities.
More specifically, the company wants to expand AI-driven pricing and revenue optimization tools, expand into new markets and add to its product, engineering and customer success teams.
“This investment fast tracks our mission to redefine what’s possible for experienced operators through AI, business intelligence and automation,” said Aaron Fessler, TripWorks founder and CEO.
“TripWorks has always led by building the technology we wished existed when we were enterprise operators ourselves. Operators deserve technology above and beyond traditional reservation software. They deserve predictive insights, smarter pricing tools and automated systems that drive growth and revenue without growing their workload. That is the future we’ve long envisioned at TripWorks, and, with this funding, we’re pushing that future into the present,” he said.
The company, which was founded in 2019, said its platform embeds AI and BI to offer features including predictive demand and occupancy forecasting, real-time abandoned cart monitoring and online travel agency channel management.
“With TripWorks, we see a platform that combines strong operator DNA with forward-looking technology,” said Greg Ho, president of Spring Mountain Capital. “The company is well positioned to be a category leader as AI and BI become core infrastructure for experience-based businesses.”