The injection of funds will be used to expand the startup's overall offering, assisting its growth into new territories in a market whose worth has been recently estimated by the global travel market research company PhoCusWright in $100 billion globally and $37 billion in Europe alone.
Musement announced that "the Series A round will be used to bolster the team internationally, extend business development and enhance the technology behind the service. While several in-trip activity startups currently operate in the fragmented yet potentially lucrative marketplace, Musement is aiming to offer a new experience for the experiential traveller worldwide, capitalising on this huge growth area in travel". The company will now approach the vast tours and activities market in a more considered way, segmenting this macro vertical into activity specific sectors with the goal of providing the experiential traveller a slick way to find and book the activities they care most about. Basing its marketing and editorial approach around targeted verticals such as sightseeing, food and wine, tours, trekking and diving, Musement aims to dominate the Southern European market initially, then expand to encompass Europe and the Americas.
Alessandro Petazzi, Musement Co Founder and CEO, commented the news stressing that the group has "a strong belief that tapping into highly specific activity verticals, coupled with a curated editorial approach, is a winning formula for the experiential traveller. The increasing number of consumers wanting to travel specifically for a certain activity is rising fast and travel is becoming an ever more emotional purchase decision. At Musement our vision is to build a service that responds directly with people's desire to experience while travelling suggesting activities at the right time, while making booking a slick and simple process."
In 2014, Musement was announced a Red Herring Top 100 Europe winner and their app was featured as "best new app" and "editors' pick" in European Apple App Stores. The service is currently available in English, Italian, French, Spanish, German, Portuguese and Russian.