Aarhus-based TravelTech platform Understory secured €12 million in Series A funding. Smedvig Ventures led the investment round. This capital injection will accelerate Understory's global expansion.
Founded in 2023, Understory offers an AI platform that unifies booking, payment, and marketing tools. The system automates workflows for experience providers. Consequently, businesses can streamline operations and enhance growth potential.
The funding enables further product development and infrastructure expansion. Understory also plans international market entry. This move will provide more experience providers access to their comprehensive SaaS solutions.
Driving Innovation in the Experience Economy
The global experience market exceeds $3 trillion annually. Understory addresses a gap where many providers still use outdated systems. Previously, founders Lasse Kjær and Lars Rasmussen built Truestory, a leading Nordic experience portal.
New investors People Ventures and Sequel participated, alongside existing investors Seed Capital and Firstminute Capital. Understory aims to revolutionize the industry, differentiating itself from existing platforms like FareHarbor and Rezdy. The company already serves customers across ten countries. Furthermore, it supports initiatives like Female Founders Lab.
