
Sherpa
A guide to getting the right travel documentation and understanding up-to-date travel requirements.
Date | Investors | Amount | Round |
---|---|---|---|
- | investor investor | €0.0 | round |
N/A | €0.0 | round | |
investor | €0.0 | round | |
investor | €0.0 | round | |
$8.5m | Early VC | ||
Total Funding | 000k |
USD | 2019 | 2020 | 2021 | 2023 |
---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 |
% growth | - | 82 % | 153 % | - |
EBITDA | 0000 | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Based in Toronto, Canada, Sherpa, legally known as Visa Run Inc., operates as a technology provider focused on simplifying travel documentation for the global travel industry. The company was established in 2015 by Max Tremaine (CEO) and Ivan Sharko with the mission to help travelers move freely across borders. Their vision addresses the complexity of navigating ever-changing government regulations, visa requirements, and border crossing procedures, a significant pain point for both travelers and travel providers.
Sherpa's core business revolves around providing a suite of solutions that integrate real-time travel requirement information and electronic visa (eVisa) processing into the platforms of their partners. The company serves a diverse client base, including major airlines like American Airlines and British Airways, online travel agencies (OTAs) such as Expedia, and other travel providers in over 50 countries. For these partners, Sherpa's platform transforms a cost center associated with managing travel documents into a new ancillary revenue stream. Revenue is generated by enabling partners to offer eVisa and Electronic Travel Authorization (eTA) services directly to their customers, with partners achieving significant increases in ancillary product add-ons and higher average booking values.
The company's product offering is delivered through several channels to maximize flexibility for its clients. A key product is the Sherpa API, which allows travel companies to embed visa, passport, and travel restriction data directly into their own websites and applications. This API aggregates data from thousands of sources, ensuring information is up-to-date. For clients seeking a quicker implementation, Sherpa provides embeddable widgets and a white-label web application that can be branded to match the partner's look and feel. These tools guide travelers through the entire process, from identifying necessary documents to completing visa applications, boasting a success rate of over 99%.
Since its founding, Sherpa has secured significant financial backing to fuel its growth. The company has raised a total of $11 million over two funding rounds, including a Seed round of $2.5 million and a Series A round of $8.5 million led by Narrative Fund and True Ventures. The heightened complexity of international travel, particularly accelerated by the COVID-19 pandemic, has underscored the market's need for Sherpa's services, leading to a tripling in the number of travel companies using its products in a single year.
Keywords: travel documentation, eVisa, travel requirements, electronic travel authorization, travel technology, visa processing, airline ancillary revenue, travel API, border crossing, passport requirements, travel restrictions, online travel agencies, visa information, travel compliance, B2B travel tech, passenger experience, visa automation, travel document management, cross-border travel, ancillary services