Entrepreneur Venture, Pléiade in €4.3m round for Travelaer

Entrepreneur Venture reportedly provided just over half the capital, with Pléiade providing the second highest figure.

Calypso Capital, the investment arm of management and marketing software developer SequoiaSoft, and French family office Alderville previously provided €1.5m in funding for the company, and reinvested in the latest round.

Travelaer intends to use the funds to further its geographical expansion and hire extra staff.

Company
Established in 2013 by CEO Mike Slone and chief operating officer Mana Coste, Travelaer develops B2B and B2C digital products for the travel industry and airline companies, aiming to increase efficiencies across all phases of travel booking.

Travelaer's products include Travel Paas, an online booking and trip management platform, and Comversational, an automated messaging platform and chatbot enabling travel companies to automate e-commerce and customer service via Facebook, Messenger and other messaging channels. Customers include Icelandair, Sata Azores Airlines, El Al Isaeli Airlines and Aeroport Nice Cote d’Azur.

The group currently employs 20 people and recorded €1m in revenues in 2016.

People
Entrepreneur Venture – Charles Fossey (investment manager).
Pléiade Venture – Laurent Vernier (partner).

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