US: Technology platform Way, which enables hotels to provide experiences through local partnerships, has closed $20 million in Series A funding at a valuation of $100 million.
Way, headquartered in Texas, first launched in May 2020. The platforms helps businesses to curate and offer experiences, local events, and brand activations. Notable hotel groups already using Way includes Bunkhouse Group, Fairmont, Auberge Resorts, Graduate Hotels and more.
This week, Way has closed a Series A funding round led by Tiger Global, with participation from MSD Capital and others. The funding will be used to expand worldwide, and follows the opening of a European HQ in Paris earlier this year.
Way co-founder and CEO, Michael Stocker, said: “Across the globe, consumer demand has shifted from material goods toward immersive, memorable experiences. Way empowers companies to leverage this change by providing the technology that makes launching and scaling meaningful activations easy to operationalise, turning them into a new revenue-driving, brand-building segment of the business.”
Nate Lippincott, investor at Tiger Global, said: “Hotel guests are increasingly demanding new and unique experiences, and Way’s platform empowers hotels to meet this need and drive additional revenue from experiences on property and in the local destinations. We’re thrilled to back this talented team as they expand globally and enter adjacent categories, including retail and media where brand enhancing experiences are a key pillar of how consumers connect with businesses.”
Alongside the funding, Way has announced several new hires. Matthias Berahya-Lazarus will serve as manning director for France; Riley Graham as VP of strategy and operations; and Jacquelyn DeBonville Styles as head of customer success.