Iris Ventures has led a $10 million funding round into Essentialist, a luxury travel agency creating bespoke, experiential itineraries for clients.
Essentialist, which is based in Mallorca, Spain, uses a combination of AI and personalized service to design and organize trips for clients who pay an annual fee of a $2,600 to join the community, and access the services.
“When it comes to the luxury travel industry, the booking experience is far from desirable. Today’s luxury travelers are looking to spend their money on one-of-a-kind experiences, and they expect products of exceptional quality and unparalleled service that acknowledge their unique needs and preferences,” she said.
It will also be put toward solidifying the direct-to-consumer business and the business-to-business channel, the latter of which he said is an increasingly important growth avenue for the company.
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