Group travel platform for travel professionals Reposite raises $7.5M

Planning a group trip can be a tedious process with so many different personalities. It’s not an easy task for travel planners, and most options available are geared toward smaller groups. increase. deposit is a software platform focused on managing the needs of group travel planners. At its core, the platform offers a supplier marketplace that allows planners to offer a wide range of itinerary options from vetted suppliers. The marketplace is smart in the sense that it takes a data-driven approach to match the right supplier to the right itinerary. Complementing the Marketplace is a suite of tools designed to help travel planners centralize group booking workflows, from contract to billing to proposal creation. Reposite charges suppliers for an annual subscription fee for lead generation and charges planners for a portion of the cost of the booked itinerary.

alley watch Caught up with the Reposite Cofounder Heather Stupi To learn more about the business, the company’s strategic plans, the latest funding round bringing the total raised to $13.5 million, and more…

Who are your investors and how much did you raise?

our investors are included Greycroft, Liberty City Ventures, MATH Venture PartnersWhen BDMI FundRaised a $7.5 million round

What products or services does Reposite offer?

Reposite provides software for professional group travel planners. One of Reposite’s most popular features is his Supplier Marketplace. This saves planners time by discovering new suppliers and receiving active travel suggestions. The marketplace allows suppliers (activity her providers, restaurants, hotels, venues, transportation, etc.) to be informed about trips taking place in the area, thus actively connecting with planners and generating new business. You can earn

What inspired you to start the repository?

Alexa Verbe (Co-Founder) and I were on the early founding team of Vettery, a New York tech startup building a marketplace for the hiring industry. In 2018 we launched a tourism business in New York after Vettery was acquired for his over $100 million. It caught the attention of large group travel planners and helped the company scale and grow rapidly. This has created a window into the group travel planning industry. When we realized the size of the industry ($352 billion) and that none of these planners had efficient tools, we decided to apply a marketplace model to the group travel planning industry (and that the Reposite born!).

What is the difference from repository?

Most travel techs tend to focus on the final traveler. However, professional trip planners only have technical systems and tools for small groups of less than 10 people. They spend most of their time creating complex itineraries in Excel, managing suppliers, and organizing information in offline manual systems. Reposite is the only tool created specifically for group travel planners. We can help you create custom itineraries, find new suppliers, and coordinate everything related to your project.

What is Reposite’s target market and size?

Reposite targets the $352 billion group travel planning industry in the US alone.

what is your business model?

Reposite has a SaaS-based model for planners, where planners can use the software to discover new suppliers and create custom itineraries. Suppliers looking to grow their business (hotels, restaurants, activities, etc.) can sign up for an annual subscription. During that time, you can receive unlimited personalized group leads from Reposite’s trip planner.

How are you preparing for a potential economic slowdown?

Reposite was founded early in the pandemic. During that time, we invested in our business and took advantage of the slowdown in the travel industry to focus on building great products that our users can’t live without. That investment paid off and we still maintain this level of discipline today. Taking calculated and responsible bets to grow market share during a downturn in the travel industry is in our DNA. User experience and building best-in-class products will continue to be our focus.

What was the fundraising process like?

We are fortunate to be backed by existing investors in both Liberty City Ventures and Greycroft. Over the past few years, we have built new relationships with new investors. Also excited to join his Reposite journey are MATH Venture Partners and BDMI Fund. Most of all, we believe in the power of relationships to drive the fundraising process, creating a much better experience for everyone than the traditional ‘spray and prey’ approach.

What was the biggest challenge you faced in raising capital?

We closed the round just as the economy was entering unstable territory. This made me a little nervous after hearing horror stories from other founders of deals falling apart. Thankfully, our investors have built a strong belief in our team and company!

We closed the round just as the economy was entering unstable territory. This made me a little nervous after hearing horror stories from other founders of deals falling apart. Thankfully, our investors have built a strong belief in our team and company!

What factors in your business are driving investors to write you checks?

Our investors are most excited about Reposite’s trajectory in moving the $352 billion group travel planning industry from offline to online. There are not many industries that have not been affected by technology. They feel we are the right team to tackle this issue.

What milestones do you plan to achieve in the next six months?

Over the next six months, the team will work to refine the matching algorithm and recommendation engine to ensure that the right suppliers are identified and matched to each itinerary. We also plan to enter new markets with a data-driven approach.

What advice can you give to New York companies that haven’t injected fresh capital into their banks?

Always focus on products and users. If you can satisfy your users, find a way to continue.

Where do you see the company going now in the near future?

Forward, upward! We have built a very strong team and are very excited to take the next step with them.

Where are your favorite outdoor dining restaurants in New York?

There are so many great restaurant partners in New York City that it’s impossible to narrow down to one favorite!

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