.webp)
Turneo, a leading travel tech start-up focused on experiential hospitality, today announced the successful closing of a £2m seed investment round led by Bessemer Venture Partners, with participation from Underline Ventures.
The investment will accelerate Turneo’s mission to revolutionise hospitality by enabling the world’s leading hotels to offer incredible in-destination activities to their guests. In addition to growing the team, the funding will enable expansion into new markets and significant product enhancements.
Founded in 2022, Turneo enables hotels to manage their entire activities offering in one place. It allows hotel guests to browse and book in-destination activities and transfers on the hotel website or app. At the same time, it provides hotels with a single platform where the entire offering of in-house and partner activities is managed. This includes creating and publishing new activities, partnering with local providers, as well as reviewing activities data, insights and reviews from their guests.
Data they are seeing from the 2024 Europe summer season is fantastic: guests who booked activities gave hotels on average 8% higher ratings on reviews sites, and over two thirds of guests who booked activities at hotels using the platform did so online. Recent years have seen significant growth in the experiences and hotel activities market, which is projected to reach £375bn by 2030. Turneo predicts £139bn will flow through hotels.
Bessemer Venture Partners, a global leader in early-stage venture capital, recognised Turneo’s potential to disrupt the travel industry, following earlier investments in the likes of Shopify and Toast, as well as household names such as LinkedIn, Pinterest and Skype. Beyond just capital, their investment places Turneo at the forefront of the hospitality industry’s transformation, with the fund’s ability to leverage their expertise to guide the company towards becoming the industry leader.
