Company Profile
TrovaTrip
TrovaTrip’s key customer insight was that travelers are often connected by interest, even if they are strangers. In fact, meeting new people can be a big part of the appeal of group travel. TrovaTrip’s key distribution insights are 1) these types of travelers are aggregated by content creators on social platforms and 2) travel is a much more meaningful (emotionally and monetarily) product to share with a community of followers than, say, running tops. A single hosted trip can be 10 to 100x more remunerative for a content creator than the other types of products they market to their audiences and a 10-day trip creates an incredibly deep and meaningful connection with their community
While travel is currently experiencing a tailwind, one of the most impressive parts of the company’s history is that the team was able to grow their business during the pandemic. This really speaks to the leadership teams’ capability, tenacity, and creativity.
Year Invested 2021
“OVF brings a breadth of expertise and knowledge across many different facets of the business, which will support us as we continue to scale the business.”
Part of our model at Oregon Venture Fund is to bring into diligence operators and exited entrepreneurs who are specifically from the target company’s industry. This was a big part of enabling us to understand TrovaTrip’s key insights and full potential even in the midst of the travel lockdown that was occurring during our initial investment in 2021. We are thrilled to be able to increase our investment in the company with their latest round along with our friends at Pioneer Square Labs and Madrona.
To date, 10,000+ travelers have booked one of the 600+ available TrovaTrips offered by 400+ hosts. With trips to Bali, Egypt, Costa Rica, Iceland, Patagonia and more, TrovaTrip offers diverse and unique trips all over the world. We hope to see you out there on a TrovaTrip!
Read the full story: why we invested
Advice for Entrepreneurs from TrovaTrip Co-Founder & CEO, Nick Poggi "Pick an industry you're passionate about and then identify opportunities within that industry, passion is critical to stay motivated through the many ups and downs of a startup. Also, mentors & advisors are a critical part of any success story, start building your network early by going to pitch competitions, joining networking events and asking for referrals."
TrovaTrip Co-Founder & CRO, Lauren Schneider adds "Working 80 hr weeks leads to burnout. Set boundaries early on to protect your physical and mental health as you build. For example, no emails after 8 pm or morning meditation to start your day. You need to recharge and often to get best results."