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The investment fuels the next phase of growth for the leading digital luxury travel agency.

MALLORCA, Spain, July 16, 2024 /PRNewswire-PRWeb/ -- , a leading premium digital travel service, has just closed a Series A growth round of c. USD 10M. The international growth equity fund, , which specializes in identifying disruptive next-generation consumer propositions, led the transaction with participation from existing and new angel investors.

Launched in 2017 and with a view to deliver the ultimate travel experience to the most discerning customers, Essentialist offers bespoke, polished and hassle-free travel experiences, curated from almost 1,000 global destinations. The Company has already reached major milestones and intends to use this capital round to fuel growth by investing in brand development, continued innovation for the curation and automation of its product, strengthening of its DTC business and scaling of its B2B channel.

When speaking to the genesis of the Company, Joan Roca, Founder and CEO of Essentialist, said: 'The premium end of the travel industry, a highly fragmented $1.3tn market, is one of the largest verticals yet to be disrupted by technology. We at Essentialist have risen to the market's call for real disruption by meeting traveler expectations, marrying advanced technology with ultra-personalization, curation, insider experiences and faster turnaround times".

By leveraging data, proprietary technology and in-house creative talent, Essentialist is able to generate uniquely curated and bespoke itineraries through seamless, high touch digital experiences that cater to its membership-base of discerning and sophisticated travelers. The company has built a leading database of customized luxury travel experiences that feed its itineraries (70k+ experiences worldwide). Essentialist's growing network of 200+ travel and lifestyle editors review and update over 2,500 of their best recommendations on an ongoing basis.

Catalyzed by the COVID-19 pandemic, IRIS believes that travel spend across income demographics will continue to accelerate. With the premium segment increasingly representing a disproportionate amount of the total market, travelers are looking to spend their money on one-of-a kind experiences. This thesis is also shared by the largest players in the luxury industry, highlighted by LVMH's $3.2BN acquisition of Belmond Hotels, Famille C's acquisition of Evok Collection, Christian Louboutin's minority investment in Experimental Group and Accor's recent bid for Habitas, to name a few.

Montse Suarez, Founder and Managing Partner of IRIS Ventures, notes that "today's luxury consumers expect products of exceptional quality and unparalleled service that acknowledge their unique needs and preferences. When it comes to the luxury travel industry, the booking experience is far from desirable. Essentialist's beautiful itineraries, its five-star client service and the power and reliability of its technology is unique in the industry and a testament to Joan's vision, leadership and the strength of his team. In this context, we are extremely excited to be backing Essentialist, a first mover in the travel industry to truly revolutionize the luxury travel booking experience through standout curation and technology."

About Essentialist

Founded in 2017 by Joan Roca, Essentialist is a membership-based travel service providing highly bespoke and curated trips globally. A digital-first travel agency, Essentialist combines innovative technology and a worldwide network of travel insiders to deliver a unique, customized and user-friendly experience to its discerning base of passionate travelers. Essentialist designs journeys that are unique to each member by connecting them with people, places and experiences enabling them to travel deeply within a destination. Benefits include a dedicated Member Experience Manager, access to special amenities and exclusive benefits, one-of-a-kind experiences and local insights from over 200 travel writers, insiders and tastemakers. For more information, please visit and follow on Instagram at .

About IRIS Ventures

IRIS Ventures is the advisor to IRIS Fund I FCRE, a EUR 100M growth equity fund targeting European and US purpose-led consumer-centric next-generation brands and tech-enabled solutions.

Media Contacts:

Essentialist:
Chandler McCain
Murphy O'Brien
[email protected] | 310-453-2539

Iris Ventures:
Montse Suarez
[email protected] | +44 788 705 6223

Florian Wojewodzki
[email protected] | Tel: +44 786 313 1318

Marc Calzada
[email protected] | Tel: +34 659 32 08 09

Media Contact

Esssentialist, Murphy O'Brien, 1 (310) 453-2539, [email protected] 

SOURCE Murphy O'Brien