Tech Deck Tricks: Inside Fora, A Techforward Travel Agency

Somewhere between travel bans in the first year of the pandemic and this year's chaos at airports around the world, a number of new travel startups have launched, promising a better experience.

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The latest entry is Fora, which describes itself as a tech-savvy travel agency that essentially serves as a hub for experienced travelers looking for a stepping stone to a career (or more) as a travel agent.

Since launching just over a year ago in August, Fora now has around 500 travel consultants worldwide (97% of whom have never worked in the industry before) working in its network, with a waiting list of over 30,000 people .

And this week, the New York-based company announced a $1,350,000 Series A funding round to help develop travel agency technology for consultants.

Fortune recently spoke with co-founders Henley Vazquez, Evan Frank, and Jake Peters, who shared the details of what it's like to run a travel business now.

The following interview has been shortened and slightly edited for clarity.

Could you tell us a little bit about your professional experience before starting the Forum?

Vasquez: Each of us is a multiple founder who has worked in the travel industry for decades. I first became interested in travel as a freshman in college and have been a travel consultant for over 15 years. I was part of the founding team of Indagar, where I learned everything about working with travel consultants and hotels. I then founded Passported, a virtuoso travel agency.

My co-founder, Evan Frank, started in corporate finance, then venture capital, and has spent the last 10-plus years creating new technologies in the travel and hospitality industry. He is a three-time founder or CEO in the travel and hospitality market, including Onefinestay, which was acquired by Accor Hotels.

Jack Peters, Fora's co-founder and chief product and technology officer, is our technical genius. He is a self-taught developer and technology entrepreneur with over twenty years of experience in the industry. Rooted in his passion for technology, data and travel, Jake wanted to change the rules of the game in the travel industry with Evan and me.

The three of us make up a dynamic team, each with their own interests and specializations that make things work so well. We co-founded Fora to create a new type of travel agency that welcomes any interest or passion for travel consultants into its network to sell travel to previously travel agents. Travel Specialists Our mission is to create a new generation travel brand by empowering a network of tourism entrepreneurs.

What inspired you to launch Handicap?

Open: When we first started Fora, we looked at real estate and drew inspiration from it. Compass just had its IPO and we read that there are 3 million real estate licensees in the US, most of whom do not work full time. However, there were only 100,000 travel agents. We wondered why there was such a gap, especially given how exciting a full-time career in travel can be, as I observed on my co-founder Henley. When our kids were in the same school, Henley and I were constantly surrounded by other moms and dads who were planning trips around the world for their families, but had no idea that they could monetize those orders by working as travel consultants.

However, traditional travel consultants had to make a certain amount of sales to be successful and work in the industry, so there was no room for selling travel as a part-time job. We wanted to change that and started thinking about the pandemic when the trip came to an abrupt halt. Henley and I had the same idea. travel is coming back and remote work isn't going away, so why can't more people do it and how do we create more profitable companies? Although travel was suspended, we knew that today's travel industry is dominated by large online booking sites and large agencies, but when we started traveling again, people wanted human interaction and the traditional travel agency experience.

There were also 1.5 million women out of work due to the pandemic, and we knew that these people would have the time and interest to pursue a part-time job or a new career. Additionally, the pandemic has forced much of education and training to go online, creating the first opportunity to train a remote workforce without the real-world inconvenience of being in an office. The Maker Economy and collaborative courses have also really exploded since they got stuck on their computers at home.

After that, we decided that we wanted to empower entrepreneurs to turn their passion for travel into a profit and create the most amazing experiences for travelers. To simplify the work and make it more efficient, giving the long tail of sellers of travel and construction equipment an opportunity to earn a living, we created Fora, which has the technology of an online booking site, but the human approach of a traditional travel agency.

Screenshot of the Fora Travel Advisor app for iPhone

The travel agent profession has changed significantly as consumers have been able to book their own travel via the Internet, which has led to the decline of the profession since the 1990s. Why do you think there might be a comeback now?

Vasquez: The travel agent market is at an all-time high amid the pandemic, with cancellations, last-minute changes and carefree travel related to everything related to COVID. Our job is to stay up-to-date on current travel warnings, trends and restrictions so you don't have to worry about them.

The internet is also messy and unregulated, with endless possibilities, but no one to sort through the noise for you. This is where our agents come into play. In addition, they are ready to support you if something goes wrong.

In addition, travel advisors may offer you additional benefits and privileges that you may not be able to receive when booking through an online booking site. Because of the direct relationship with the hotel, those who use Trip Advisor are more likely to receive upgrades, restaurant and spa credits, and additional amenities. We will ensure that the special occasions you travel for are celebrated as we are in constant contact with the hotel and its team. Wine in the room on arrival, a romantic treat or a surprise for the children.

The tourism industry is definitely booming, even though airports are experiencing record delays, flight cancellations, lost luggage and emergencies (literally in some cases). But inflation and a looming recession have some nervous about the cost of travel. What do you think will be the top travel trend this fall and holiday season?

Vasquez: The growing recession hasn't stopped travel, but we see last-minute travel planning as a trend that won't stop, and we suspect it has to do with the price of trust. We recently saw a record week with one third booked with departure dates for the following week. When there is uncertainty in the markets, we see a reluctance to plan much further into the future (rather than a reluctance not to travel at all).

However, the unique thing is that now everything is so expensive when it comes to travel, but people still book their dream trips regardless of the cost. After being stuck at home for two years, they can't wait to see the world again.

When it comes to trends, less attention is paid to busy routes. Fewer people are asking for tickets to the Louvre or museums. Most people don't want to plan round trips. Instead, they want to travel and explore the cities they're in, eat great food, and feel immersed in places they've missed. We are also seeing a dramatic increase in outdoor adventure and travel. I lived in Costa Rica during the pandemic, again in large part due to the need to do something rather than stay at home. From national parks to rainforests, we're seeing the same trend in travel planning. Let's get active!

As for the air ticket, there are now more passengers than seats. For those of you who haven't thought about your flight this holiday season, you should get on it now, although we know from our data that the last minute is still the name of the game. It is important that people adapt their behavior to the unpredictability of flights by building up buffer days or flying earlier rather than later to protect themselves from delays and cancellations. We're all pretty good at going with the flow, even if we don't like it. Working with a travel agent means having one in the industry who can help you navigate the changing nature of travel right now.

How is the company financed? Self-funded or did you approach investors? How was the financing process?

Open: For innovation in the travel industry, which has historically been fragmented by many small owner-operators, and as a result tends to have very few opportunities for technology development and many opportunities typically found only in OTAs [online travel agencies]. We need to raise capital. Agents are supporting the online travel booking revolution. We want to put the power back in their hands and create a cross between a traditional agency and an OTA. Human operated OTA.

As a result, we get VC support from the start. In the fall of 2021, we closed a $5 million seed round and announced our $13.5 million Series A financing, co-led by Heartcore Capital and Forerunner. This Series A funding will be used to accelerate the next evolution of our platform, an innovative customer and booking management system that is the first of its kind in the industry, especially for our community of travel advisors.

We are an experienced team with different exits and experiences (agency, travel service provider, building technology product) that helped us raise this capital.

Looking ahead in five years, how do you want to develop the forum? What services would you like to add in the future?

Peters: Travel consulting really can be the best job in the world. However, to bring this to life and attract thousands of travel enthusiasts to the industry, many things need to be rethought, from payments to marketing, providing different ways to interact with the community and simplifying the planning and booking process. .

We have big plans and lots of ideas about what we can create; The thoughtful integration of our platform is a work in progress. We are now focused on laying the groundwork both from a product perspective and from an underlying technology perspective, but most importantly from a process perspective: how we build, how we listen to and support our teachers, how we engage with travel technology and more. widely Community of providers.

and we do all this so that our consultants can work productively and enjoy their work in travel sales and customer service. I want to wait a few years and think how we will have a product that combines all the necessary elements; it includes booking tools, customer management tools, payments, supplier information, training and community and more in one powerful and easy-to-use sentence.

I know I speak for everyone on the team when I say that we are extremely interested in growing the forum and taking it to a much bigger scale than it is today. We want to bring new people into the industry and empower them to turn their passion for travel into a meaningful career, side business or full-time job. We want to support travel advisors as much as possible through technology and community. There are approximately 100,000 agents in the travel agency industry. At Fora, our goal is to attract the next 100,000 or more agents with a more progressive approach to training, workforce and technology. We want the job of a forum consultant to be the best job in the world.

This story originally appeared on Fortune.com