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Emma WeissmannManaging Editor

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Travel Startups Receive Record Funding

Oct 27, 2019
Travel Startups Receive Record Funding
Travel startups received record funding in 2018.
Credit: 2019 Getty Images

What
The travel startup space is stronger than ever: A whopping $5.7 billion — a record-breaking figure — went to these companies last year, according to Phocuswright’s State of Startups Report. (Note: Phocuswright is owned by Northstar Travel Group, the parent company of TravelAge West).

Why It Matters
Phocuswright has been tracking this number since 2009. In the past decade, nearly $20 billion has been pumped into industry startups, with last year’s record accounting for about one-third of all funding for the last 10 years. It’s a strong vote of confidence for the industry’s new businesses and the sharing of new ideas and technologies.

Fast Facts
- Last year represented a 55% year-over-year increase in the amount of funding for these startups.

- Phocuswire, a sister brand to Phocuswright, points to the global online travel outlook and “frenzied late-stage investor support for new business models” as a primary reason for the funding boom.

- Most of the funding ($4.5 billion) raised last year was obtained by late-stage startups. Early-stage businesses, on the other hand, declined from $218 million (2016) to $116 million (2018).

- The total number of founding rounds is declining; 570 signed in 2016, while 375 signed in both 2017 and 2018. 

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- Packaging was the fastest-growing sector (138% increase year-over-year), while content/social-related businesses had a 392% jump.

The Details
Phocuswright
www.phocuswright.com 

Phocuswire
www.phocuswire.com

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