Utrip

Utrip, founded in 2012, operated a data-driven platform for destination discovery and travel planning. The company was the brainchild of Gilad Berenstein, who, after a trip to Europe, was inspired to create a more personalized travel experience without the high cost of a travel agent or extensive research. He launched the company at the age of 23 with his father, engineer Yair Berenstein, and fellow entrepreneur Edan Shahar.

The core of Utrip's offering was a technology platform that combined artificial intelligence with human expertise to generate personalized travel itineraries. Users would input their interests, budget, and travel dates, and the algorithm would sort through millions of sites, activities, and restaurants to create a day-by-day plan. The initial business model was a direct-to-consumer application. However, facing the high costs of driving user traffic in a crowded market, Utrip pivoted to a business-to-business strategy. This involved licensing its software as a white-label solution, Utrip PRO, to clients such as hotels, cruise lines, and destination marketing organizations, helping them increase engagement and conversion rates.

The company successfully raised a total of $9.68 million over six funding rounds. Key funding milestones included a $750,000 seed round in 2014, an additional $850,000 later that year, and a significant $4 million Series A round in 2017. This capital was intended to enhance its mobile applications and machine learning capabilities. By 2017, Utrip had secured over 50 clients, including major names like Starwood Hotels and Holland America Line, and had a 100% customer retention rate over three years.

Despite generating revenue from approximately 80 clients and holding promise with its technology, Utrip faced financial difficulties. In 2018, after a venture capital round did not materialize, the company pursued an acquisition by a larger travel company. The deal collapsed at the final stage, reportedly due to the discovery of a conflicting patent held by a rival. Lacking the capital to continue operations and expand its sales and engineering teams, Utrip officially shut down in the spring of 2019.

Keywords: travel planning, itinerary generator, artificial intelligence, machine learning, B2B travel tech, white-label travel, travel personalization, destination marketing, Utrip PRO, Gilad Berenstein, travel software, trip planner, predictive technology, travel itineraries, travel tech startup, Seattle startup, personal travel, travel curation, hospitality tech