Branchspace secures US$605 million investment from Gresham House Ventures
The deal marks the first institutional investment into the company
Branchspace announced that it has secured £5 million (US$605 million) from Gresham House Ventures. In the press release, the company said they are addressing a growing demand from airlines to create a modern retail offering and meet evolving customer needs for relevant, personalized shopping and self-service experiences.
The company provides solutions across the tech industry including solutions architecture, digital performance reviews and UX/UI experience design. They also have a booking and conversion engine and dynamic retailing software platform called Triplake, which launched in 2021.
Branchspace will use the investment from Gresham House ventures to accelerate its growth and further develop its suite of software components that support travellers’ on the go. The press release stated that the investment would help ensure effortless website and mobile app navigation, booking, ancillary offerings, check-in, self-service and payments.
Benjamin Faulkner and Tom Makey led the deal on the Gresham House Ventures side, marking the first institutional investment into the company. According to the press release, Gresham House Ventures aims to work with ambitious management teams who want the support of a flexible long-term investor who brings capital, insight and expertise.
Benjamin Faulkner, Associate Director at Gresham House Ventures said, “As we witness a strong resurgence in air travel post-pandemic, airlines are determined to meet the ever-changing demands of their customers. Branchspace's solutions align perfectly with this industry-wide 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.”
“Our investment in Branchspace underscores our commitment to supporting innovative businesses that empower industries through technology-driven solutions,” Faulkner added. “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.”
Michael Huynh, Founder and Managing Director at Branchspace, also commented on the investment.
“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 travellers and increasing speed to market with more pre-integrations,” Huynh said.
“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,” he added. “This investment marks a significant milestone in our growth journey, and we remain steadfast in our mission to break down barriers of legacy technology and thinking to bring innovation to the forefront of the industry.”
Strata Technology Partners LLP advised Branchspace on the transaction.
