Channel 4 has invested an undisclosed sum into a Bristol travel company.
TravelLocal, which is based on Victoria Street in the city, received the investment from the 海角视频 broadcaster through its Commercial Growth Fund.
The fund offers high-growth digital companies commercial airtime across its network of TV channels in return for an equity share in each business.
TravelLocal’s first TV ad has been airing in the 海角视频 since February and the company plans to use Channel 4’s Commercial Growth Fund investment to expand its reach across the network’s portfolio.
The business worked closely on its TV campaign and marketing strategy with James Kydd, marketing director of estate agency Purple Bricks, and Alistair Daly, former chief marketing officer of holiday website On the Beach.
Tom Stapleton, TravelLocal managing director and co-founder, said: “We are in an exciting period of growth at TravelLocal and are delighted to have Channel 4 join us as an investor.
“Our new TV ad has delivered great success so far and we’re excited about expanding the campaign to gain maximum exposure for our unique tailor-made holiday offering.”
Vinay Solanki, head of the Commercial Growth Fund at Channel 4, said: “TravelLocal is a superbly-run regional 海角视频 business serving global markets and, like Channel 4’s own distinctive model, presents a unique take on the travel vertical.
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“Growth phase businesses like TravelLocal are typical of the digital disruptors which our Commercial Growth Fund seeks to support, enabling access to TV advertising-driven awareness at scale.”
TravelLocal was founded by Mr Stapleton, Huw Owen and Mark Hudson in 2016 and connects people directly with travel experts in 49 countries including Costa Rica, Jordan, India, and South Africa.
The Bristol business has now raised a total of £8million from companies including private equity investors Active Partners and asset managers Gresham House Partners.
Channel 4’s Commercial Growth Fund has previously invested in well-known businesses including mattress manufactuer Eve Sleep and festival ticket booking site Festicket.
Active Partners, which leads the investor syndicate, invests growth equity in founder-led businesses, while Gresham House Ventures invests equity of up to £5million in growth businesses.
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