Zozi, a startup that hooks merchants up with those seeking travel experiences using proprietary software, raised $30 million in a new round of financing. The new infusion of capital was led by Pritzker Vlock Ventures and included Richard Branson of the Virgin Group.
Zozi's two-part platform consists of Zozi Advance, a SaaS reservations, payments and customer management system for businesses, and Zozi.com, a marketplace for activities, getaways and gear for consumers. It has sold nearly half a billion dollars in activities worldwide, helping nearly 5 million customers Get Out There and experience the world. Thousands of merchants across nearly 90 countries already use Zozi Advance to power their businesses.
Zozi grew transaction value by nearly 15X in 2014, and was named one of America's Most Promising Companies in 2014 and 2015 by Forbes. Every 10 seconds, a customer purchases an activity on Zozi.
“In recent years, many industries including travel have been completely transformed by the Internet, and finally, the revolution is coming to the experiences market,” said Zozi CEO and founder, TJ Sassani. “We're seeing incredible momentum. Our vision is that Zozi Advance will power every activity business worldwide, making Zozi.com the largest real-time experiences marketplace.”
“I've founded many companies that have disrupted markets over the years and it's clear to me that Zozi is leading a revolution with its innovative online booking software for activity businesses and consumer marketplace,” said Sir Richard Branson, founder of the Virgin Group. “I've always believed that it's important to shake up your daily routine with new experiences. Zozi Advance makes it easier to run an experience business, and Zozi.com is a great place for people looking to book these experiences.”
The latest financing will be used to bring fresh capabilities to Zozi Advance, onboard a large backlog of new businesses onto the platform, and publish tens of thousands of new activities on Zozi.com in 2015.
“Zozi Advance launched in 2013 and in just two years has leapfrogged the competition in terms of technology, growth, merchants and funding, and is transforming a $100 billion industry,” said Elon Boms, Managing Director of Launch Capital. “We invested in Zozi because, similar to OpenTable, they provide both technology and new customers to businesses, giving them an edge over the competition.”
“While the Internet has revolutionized travel, including how people research and book flights, hotels, cars and restaurants, activities remain one of the largest underserved segments to benefit from the shift online,” said Brian Barth, inventor of travel metasearch, founder of SideStep, and Zozi board member. “I believe Zozi is positioned to win.”
