Branchspace, a travel technology consultancy and software provider that works with airlines on digital retailing, has locked in a new £5 million investment.
The investment, which Branchspace announced in a post, comes from Gresham House Ventures, which is a growth equity investment firm that focuses on digitally driven business and software.
Michael Huynh, founder and managing director at Branchspace, said the investment marks a “significant milestone” in the London-based company’s growth. The investment will go toward addressing demand from airlines to meet shifting customer expectations and to build modern retail offerings for self-service experience and personal shopping as air travel rebounds after the COVID-19 pandemic.
“With Gresham House Ventures' support, we will be able to accelerate commercial opportunities for our airline partners by advancing the development and deployment of our modular Triplake dynamic retailing platform, delivering the best possible end-to-end experience for travelers and increasing speed to market with more pre-integrations,” Huynh said.
He added: “We will also enhance our leading Triplake Control Hub further for airline teams to drive one-to-one propositions and experiment and optimize performance in real time."
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Gresham House Ventures associate director Benjamin Faulkner said the investment underscores the firm’s commitment to supporting businesses that seek to empower industries with solutions driven by technology.
“The management team's deep industry experience further bolsters our confidence in the company’s potential to revolutionize the airline sector's online retail capabilities, and we look forward to working with them to achieve this,” Faulkner said.
Branchspace, he continued, is well-positioned to meet the evolving needs of airline customers in a post-pandemic world.
“Branchspace's solutions align perfectly with this industrywide need and, with the successful launch of their Triplake product, have brought a step change in the technology tools available for retailing travel across the globe,” Faulkner said.