SquadTrip, an automated payment solution for large and small group trips, announced today that it has successfully secured $1.5 million in funding. The investment will support the startup’s mission to revolutionize the travel industry and provide enhanced experiences for both travelers and industry experts alike.
“With this investment, we can accomplish our goal of helping 50,000 group travel organizers boost sales and streamline operations,” says Darrien Watson, CEO of SquadTrip. “We are grateful for the confidence our investors have shown in us, and we are committed to delivering value to our growing user base.”
The tech startup has achieved a significant milestone as one of the few, Black-owned travel software companies to secure an investment deal surpassing $1 million. Atento Capital, a Tulsa-based venture capital firm focused on unlocking unsung potential in early-stage founders, is the lead investor in the current funding round. Forum Ventures, a leading early-stage fund specializing in B2B SaaS startups with locations in New York, San Francisco, and Toronto, also joined the funding round as an additional investor.
Founders Darrien Watson and Stevon Judd have generated $7 million in travel sales and 6,000 bookings. The business partners, who were college best friends, began their entrepreneurial journey by establishing an event ticketing platform for Black entrepreneurs and founded SquadTrip last year. An alum of Build in Tulsa Techstars Accelerator 2022, SquadTrip raised nearly $2 million within a span of one year.
The booking platform empowers users to grow their businesses by offering a comprehensive suite of professional tools. With these features, travel organizers can create engaging itineraries, automate billing, set up payment plans, track revenue, and maintain seamless communication with guests.
“We are proud of what we have accomplished so far, and this funding will enable us to focus on talent recruitment in areas such as engineering, quality assessment, testing, PM, and design,” says Stevon Judd, Co-founder of SquadTrip.