Family Traveller secures £750,000 investment
Business founded by former executive of Harrods and News Corporation wants to target £3.5bn UK family travel market
London-based family travel media business Family Traveller has raised £750,000 growth capital from the Cass Entrepreneurship Fund, the Angel Co-Fund and individual angel investors.
Founded in 2013 by Andrew Dent – a former executive at News Coporation UK and Harrods – Family Traveller targets 28-45 year-old mothers with advice on everything from accommodation to destination and activities.
The company, which runs both online and in print, has attracted high-end clients for advertisements such as British Airways, Disney, American Express and Hyundai with distribution partnerships with ocado.com, Boden and Legoland.
Said to be on track to achieve revenues in excess of £1m, the start-ups will use the investment investment to enhance its digital arm, grow its user base and attract increased commitments from investors.
This is the ninth investment made by the £10m Cass Entrepreneurship Fund, which was established in 2010 with the support of Peter Cullum CBE.
Family Traveller’s Den commented: “Our goal is to build a valuable niche in family travel, with high quality curated content and a targeted market place for advertisers.
“The opportunity is global with the market set for rapid growth. Despite this opportunity and evident consumer demand, there is no one else doing what we do in the UK or overseas. This offers an enormous opportunity for us to take the Family Traveller brand into new markets – and this will be a major area of focus for us over the next three years.
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Jane Reoch, investment director at the Cass Entrepreneurship Fund, added:
“Family Traveller bridges the travel and media industries, both of which offer a supportive future environment for acquisitive growth and/or sale in the long term. Both sectors have seen an increase in private equity investments and a highly active M&A market exists for strong digital brands.”