LONDON--(BUSINESS WIRE)--eola, the operating system for experience providers, has closed a $2.8MM funding round led by Pentech Ventures, with participation from Techstars and leaders in travel and technology.
eola provides cutting-edge operations technology to experience providers in the UK and beyond. From hiking tours in Scotland and watersports centres in Cornwall to hot air ballooning in New Zealand, eola equips them with the tools needed to manage their entire business. By automating bookings and payments processes, making scheduling and resource management easy, and providing features like memberships and rentals, the eola system saves businesses time and boosts their revenue.
During 2020, eola saw their business grow 5x while tripling their customer base. The value of automated processes, online accessibility, and real-time adaptability has proven even more essential during last year's changing conditions. Using eola’s unique technology, their average partner doubled online bookings in 2020 from the previous year. eola’s now anticipating even greater growth in 2021 as people are excited to return outdoors. The new fundraise will be used to expand their technology, team and commercial footprint.
Callum Hemsley, CEO, eola: We’re delighted to have this group of investors onboard for the next stage of growth. The success we’ve achieved to date is a testament to the incredible tenacity and resilience of our team and customers. 2020 was a difficult year, but seeing how everyone responded was truly inspiring. I’m very grateful to be on this journey with them all. Now, we’re looking forward to helping more experience businesses grow together with us.
Sandy McKinnon, partner, Pentech Ventures: The eola team has crafted an incredible operating system for running experience businesses. To have grown a company during lockdown in this market is amazing and speaks to the value they deliver to their customers. We’re excited to back them and help them grow even faster.
Eamonn Carey, MD, Techstars London: Building products people love is the best way to create a scalable, category-defining business. That’s precisely what Callum, Dan and the eola team have done. I’m consistently impressed by the feedback and referrals they get from their customers and the great impact that eola is having on their businesses. I know what’s in the pipeline, and I cannot wait to see those customers and millions of others benefit from eola’s operating system.