Travel tech startup Joyned has received $8 million, wrapping its Series A funding round.
Joyned, which is focused on innovative social revenue and allows users to book trips together online, will use the funding to work toward becoming a global growth engine for travel brands.
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Jonathan Abraham, CEO of Joyned, said the company is proud to have received the funding from “leading funds,” including Reach Markets, Sentor Investments and Velocity Ventures, along with Lucerne Investment Partners.
"The platform we have developed addresses the travelers’ need 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,” he said. “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.”
Joyned enables online travel agencies, hotels and other booking sites to offer group travel planning and
booking on their websites, to create a seamless and collaborative booking process.
The technology allows travel brands to own their clients’ social engagements and boost conversion rates. The artificial intelligence-based revenue platform by Joyned helps to point out data including price perception and sentiment analysis too, allowing for sites to have a more comprehensive look at their customers’ booking journey.
Jonathan Cocks, partner at Velocity Ventures, expressed admiration for Joyned’s processes.
“Joyned’s innovative approach to collaborative travel booking experiences and its ability to drive engagement and conversions make it a standout player in the market,” said Cocks. "This investment will help catalyze Joyned's expansion efforts and create lasting value for both customers and stakeholders."