The capital came from the £10 million Cass Entrepreneurship Fund and the government-backed Angel Co-Fund, which has invested in more than 50 fast-growth firms including YPlan and Gousto.
Andrew Dent is the ex-senior media executive who started Family Traveller back in 2013, and the media venture is set to hit revenues of over £1 million this year.
Running as a print and online title, it targets 28-45 year old women with children and provides content around travelling with children of different age groups. The particular demographic was chosen as data revealed that mothers control 80 per cent of household spending.
Having seemingly sensed an opportunity for a new marketing outlet, brands to have advertised with the publication include British Airways, Club Med, Hertz, Disney, Burberry, Estee Lauder and American Express. Elsewhere, Ocado and Legoland have supported distribution.
To date, the company has published 12 issues of Family Traveller Magazine (average distribution 65,000 copies). The website has grown to c. 100,000 monthly unique users and an email newsletter database of over 45,000.
“Our goal is to build a valuable niche in family travel, with high quality curated content and a targeted market place for advertisers,” said Dent.
“The opportunity is global with the market set for rapid growth. Despite this opportunity and evident consumer demand, there is no one else doing what we do in the UK or overseas. This offers an enormous opportunity for us to take the Family Traveller brand into new markets – and this will be a major area of focus for us over the next three years.”
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The £750,000 investment itself will be used to bolster the digital side of the business and provide an enhance user experience, which will ultimately provide better monetisation opportunities for the company which hopes to provide broader advertising verticals.
Dent detailed: “This investment is an important milestone for Family Traveller and enables us to take considerable strides in developing our online presence, brand awareness and pool of talent.
“Fairly imminently, familytraveller.com will be re-launching as a highly personalised, social intelligence built site that will deliver hyper-curated, and therefore relevant, content to our audience, enabling a richer experience for them, as well as more targeted and efficient advertising opportunities for our commercial clients.”
The UK family travel industry alone is valued at £3.5bn, according to the UK World Tourism Organisation. Family Traveller noted that it’s a market where information can be crucial to buying decisions, which has enabled it to secure a user base of 100,000 monthly unique users.
“The funding will provide a strong basis for future growth. Family Traveller bridges the travel and media industries, both of which offer a supportive future environment for acquisitive growth and/or sale in the long term,” said Jane Reoch, Investment Director at the Cass Entrepreneurship Fund, commented.
“Both sectors have seen an increase in private equity investments and, a highly active M&A market exists for strong digital brands. All of this points to a very bright future for Family Traveller.”