TourWrist has received seed investment totaling $1.25 million – in preparation for an anticipated Series A in 2013. Investors include:
- Thayer Ventures – a venture capital firm that invests in technology companies that focus on disruptive change in the hospitality industry. Its portfolio clients include: hotelme, Hipmunk and Adara Media.
- General Catalyst Partners – a venture capital firm that works closely with exceptional entrepreneurs at its portfolio companies such as: Airbnb, Kayak, Room77, Ostrovok, Viajanet and ITA Software.
- Jim Hornthal – CMEA Capital Venture Partner; Chairman, Triporati; and founder and former CEO, Preview Travel (which subsequently merged with Sabre Holdings to form Travelocity.com).
- Robert (“Bob”) Alter – Founder of Sunstone Hotel Investors Inc.; President of Seaview Investors; previously served as the President of the Holiday Inn Franchise Association; and is a member of the Marriott Franchise Board.
- Brad Ross – 360iTours Founder and President. Ross’ company provides premier professional photography services incorporating TourWrist technology in its 360iTours app powered by TourWrist.
The $1.25 million includes The General Catalyst Award for Travel Innovation $250,000 investment TourWrist won at The Travel Innovation Summit @ The PhoCusWright Conference in Scottsdale, AZ this month.
“While it’s exciting to win a $250,000 investment, it’s even more exciting to us that the General Catalyst team will help mentor and socialize TourWrist among the who’s who of Silicon Valley,” said Armstrong. “It’s exciting that travel tech VC’s Thayer Ventures and General Catalyst Partners – and travel industry veterans Jim Hornthal and Bob Alter – are among our seed investors.”
Commenting on Armstrong, General Catalyst Partners Managing Director Joel Cutler observes: “He’s thoughtful, he’s passionate, he’s extremely focused. It’s easy to understand what he is doing. He’s got a certain energy and charisma about what he’s doing that carries the day… It’s easy to see why he’ll be successful building a company.”
Hornthal and Alter asked to participate in the TourWrist seed round, immediately following TourWrist winning:
- The General Catalyst Award for Travel Innovation (includes $250,000 convertible note)
- The DEMO Award for the Most Game-Changing Innovation
- The Most Innovative Emerging Company
- The 2012 Travel Innovation Summit People’s Choice Award Runner Up
TourWrist will use the $1.25 million investment to accelerate the build-out of its technology roadmap and marketing initiatives among hotels, cruise lines, vacation rental platforms, tourism organizations and Online Travel Agents.
TourWrist previously raised $500,000 from friends and family.
Also in 2012, TourWrist was honored with:
- Best of Show at Macworld
- DEMO Spring 2012 DEMOgod and People’s Choice Award (includes a $1 million IDG advertising buy);
- An invitation to showcase TourWrist technology in the Google I/O Sandbox
Apple has featured the TourWrist app in its App Store more than 600 times.
Video: TourWrist Founder and CEO Charles Armstrong. At 8:05, Critics Circle and response. At 11:36, four awards presented to TourWrist. At 14:16 Q&A with Travel Tech Consulting, Inc. President Norm Rose. At 19:21, General Catalyst Partner Managing Director Joel Cutler on TourWrist.
Banner Photo: General Catalyst Partners Managing Director Joel Cutler talking about his VC’s investment in TourWrist at The PhoCusWright Conference. (Video screen grab courtesy of PhoCusWright).
- TNOOZ – TourWrist Brings Latest Funding Round to $1.25 Million; Heavyweights Liking the 360-Degree Views (12/3/12)
- PRWeb – TourWrist, a Thayer Ventures Portfolio Company, Sweeps the Awards at The Travel Innovation Summit @ The PhoCusWright Conference (12/3/12)