Since the members of the 2022 class were named in 2021, some have undergone pretty big changes such as Kambr, which was acquired by Amadeus, and Nethone, which was acquired by MangoPay
PhocusWire caught up with a selection of the other members of the class of 2022, including Thrust Carbon, Wheel the World, Road.travel, Vacayou, Onfly and Data Duopoly. Responses have been edited and condensed for clarity.
Thrust Carbon
Thrust Carbon is a sustainable travel tool. Answers from director Mark Corbett.
In the last two years, our company has … won two of the top 10 corporate travel buyers as clients in 2023. We have a major launch happening as we speak, with live demos for customers, and news hitting any moment now.
Looking back, one thing I know now that I wish I knew then is … how long important things take! I often talk about the dichotomy of founders needing to be impatient and tenacious, yet also holding onto astronomical levels of patience. To paraphrase Hofstadter's Law, “It always takes longer than you expect, even when you take into account Hofstadter's Law.” As long as you see progress, decreasing sales cycles, faster iteration on new products, you can be happy you are reaching some kind of balance.
The biggest challenge we’ve faced since our founding is … the complexity of the travel industry creates a lot of additional problems, and ultimately, can defocus/distract you as a founder/team. We’ve said no to projects in order to focus on our mission, which is driving the industry to net zero. It’s not easy, but sometimes you have to. Speed is a vital component of whether we succeed, our planet just doesn't have the time to lose.
My advice for early-stage founders is … take it step by step. Too many founders get lost in the big picture or shooting to be a unicorn. You need bold vision and ambition, but early days are all about execution. So my advice is step by step. Focus on how you win client #1. How will you genuinely solve a key problem they face, and in a matter that is not incrementally, but exponentially better than any incumbent or existing tools. Answer that, build on that, iterate on that and execute hard.
For the coming year, our priorities are … growth. We’ve been growing at three times year on year since our first sale, and it’s vital that each part of the business grows in accordance. Fundamentally, that means investing in great people, which is something we relish. Gratefully, working in mission-centric business and remote work are two of the most important factors people look for in new jobs. So I am hugely excited for what the new year will bring.
Wheel the World
Wheel the World is a travel tech company focused on accessibility. Answers from co-founder and CEO Alvaro Silberstein.
In the last two years, our company has … tripled bookings and revenue in the last two years and created a new product for destination marketing organizations: an accessibility seal of approval.
Looking back, one thing I know now that I wish I knew then … is that as your company grows, the new problems you face are bigger too.
The biggest challenge we’ve faced since our founding is … to keep focus on crucial things and make sure our growth continues to be effective regarding the investments we do.
My advice for early-stage founders is … to do things that don't scale but start thinking about how you will scale them and move in that direction.
For the coming year, our priorities are … keeping our growth trend by scaling our supply of accessibility data verified, by incentivizing our community to help us map accessibility and continue partnering with destination marketing organizations.
Road.travel
Road.travel provides adaptive travel guides with curated digital routes. Answers from founder and CEO Nikita Dedik.
In the last two years, our company has … commissioned more than 2,200 adaptive travel guides - curated, interactive road trip routes, with location-based storytelling in multiple languages, available from your mobile to in-car navigation in almost 60 countries. Created buzz in the automotive industry, pioneering interactive travel content for car users. And launched branded projects and campaigns for a number of partners - automotive brands, car clubs, tourism boards. Frommer's, Mobilité Club France, Touring Club Suisse, Visit California, Visit Dubai - these are some of the early supporters of adaptive travel guides.
Looking back, one thing I know now that I wish I knew then is … you're doing great, don't give up on your vision, your time will come.
The biggest challenge we’ve faced since our founding is … being Russian founders, especially after the horribly tragic 24th of February 2022. Slava Ukraini!
My advice for early-stage founders is … raising growth capital and doubling your team requires the hands-on approach as much as when it's just a founders-led team, if not more. Delegating the founder's job to new hires, relying solely on their big titles, may eventually lead to inefficiency, and losing the startup spirit.
For the coming year, our priorities are … becoming the top-of-mind brand for road travel - road trips, scenic drives, weekend getaways. Capitalizing on our success with advertisers, sponsors and distribution partners. Making road trips easy, fulfilling and memorable.
Vacayou
Vacayou is a wellness-focused travel booking platform. Answers from CEO and founder Muirgheal (Muirelle) Montecalvo.
In the last two years, our company has … had a challenging start given our launch right before the COVID pandemic, but we swiftly established a robust marketplace and content platform showcasing global wellness resorts and retreats. While our traffic grew, we developed our booking system and identified a gap: Travelers couldn't book complete wellness experiences alongside their rooms, leading to cancellations and dissatisfaction. To address this for our hotel customers, we're now launching TripFusion, our new B2B SaaS solution fusing together hotel stays with spa and wellness services.
Looking back, one thing I know now that I wish I knew then is … that building a travel startup is far from easy, even with a fantastic idea and a strong business plan. While it's crucial to have passion and optimism, it's equally important to be prepared for the complexities and challenges that come with the territory. Set realistic expectations about the technical hurdles you may encounter and allocate resources and expertise accordingly.
The biggest challenge we’ve faced since our founding … has become our biggest opportunity, in a way. We didn’t anticipate the complexity in booking experiences with a stay and had to manually address it for some time. Now we’re excited to be able to bring our automated B2B solution to market in the hospitality industry with TripFusion, allowing hospitality groups to upsell, cross-sell and package wellness amenities and services in a seamless journey.
My advice for early-stage founders is … build a strong team. It's really hard to do it alone. Surround yourself with talented individuals who share your vision and complement your skills. Be ready to adapt and pivot, as flexibility is essential in the entrepreneurial journey, where we learn from both successes and failures. Stay persistent, work hard and celebrate small victories to keep morale high and maintain focus on your goals. Remember, entrepreneurship is a marathon, not a sprint, so be patient, stay committed to your vision and keep learning as you go.
For the coming year, our priorities are … to deliver a great product while we launch TripFusion with our pilot hotels customers. We’re taking on more beta customers now, and the focus will be on scaling to more hotels in 2024.
Onfly
Onfly is a comprehensive solution for business travel centered in Brazil and Latin America. Answers from CEO and co-founder Marcelo Linhares.
In the last two years, our company has … evolved from a small startup with 40 employees and 180 clients to a large company with 280 employees and over 1,200 clients. In 2022, we grew 400% year over year, and in 2023, we are growing 115%. We have significantly evolved our expense management solution, launched a corporate credit card and integrated with the leading enterprise resource planning firms in Brazil.
Looking back, one thing I know now that I wish I knew then is … all the complexity of the tourism chain, integration with hotels, airlines, car rental companies. I believed it would be much easier to make all the integrations work, but I'm sure that all the optimism at the beginning helped me get to where we are. Learning is part of the journey.
The biggest challenge we’ve faced since our founding is … COVID-19. In April 2020, we had to lay off our entire team after our revenues dropped by 99%. It was terrible, the worst moment for us. We had to start from zero again.
My advice for early-stage founders is … study a lot, work hard, hire the best people and provide them with context and security to do their best. Build a strong culture that inspires all employees.
For the coming year, our priorities are … to continue building the best platform for business travel and expense management for Brazilian and Latin American companies. We have 80 software engineers working to improve our product every day. This year we will support our customers on tracking CO2, and we will integrate with partners to enable our customers to run zero-carbon companies. We are going to launch a platform to allow our clients' employees to travel with exclusive discounts, similar to Gympass but exclusively for travel, with aggressive discounts and exclusive inventory.
Data Duopoly
Data Duopoly is focused on visitor flow management. Answers from CEO and founder Tanuvi Ethunandan.
In the last two years, our company has … had an incredible journey. We secured Innovate U.K. funding to develop our “Data Duopoly API” to work with transport operators and have launched within an award-winning town. It has also been fantastic to be recognized as a “Women in Tech” by TechSW and the West Country Women Awards.
Looking back, one thing I know now that I wish I knew then is … I cannot understate the importance of building a strong network around you while founding a company. I have been incredibly fortunate to have some fantastic mentors along the journey.
The biggest challenge we’ve faced since our founding is … knowing when to pivot or explore a new market vertical.
My advice for early-stage founders is … to test your product hypotheses. Really test them. This will help you understand what product-market fit really looks like.
For the coming year, our priorities are … to scale within the transport sector and to raise our next round of funding. We are looking for transport partners (bus or train companies) to implement our new API.
Tags: Alvaro Silberstein, Wheel the World, Road.travel, Nikita Dedik, Data Duopoly, Tanuvi Ethunandan, tourism, Onfly, Marcelo Linhares, Vacayou, Muirgheal (Muirelle) Montecalvo, Thrust Carbon, Mark Corbett, PhocusWire
