2013-10-15 22:36:55 - Company X Invests in Travefy, Winner of Columbia Business School's 2013 A. Lorne Weil Startup Pitch Competition as part of a $320,000 Seed Round
NEW YORK, NY — Company X, an early stage investment company providing capital to student entrepreneurs, today announced it is making a strategic investment in Travefy, a student-developed group travel company and the winner of this year's Columbia Business School's A. Lorne Weil Startup Pitch Competition.
Travefy, a group travel planning platform, helps students invite friends to travel, poll dates and locations, collaborate on details, book hotels, and manage expenses and reimbursements online.
Company X co-founder Evan Denner discovered Travefy while judging Columbia Business School's A. Lorne Weil Startup Pitch Competition this March. "Travefy is a great fit for Company X," he says. "Our parent company, Campus Evolution, owns and manages student housing assets across the country, so we're very
connected to the broad student network – one of Travefy's target markets. We know they need a simple solution to book group travel for mid- or end-of-term vacations while they are buried in their studies. Moreover, adding Travefy's products to Campus Evolution's robust suite of student lifestyle-enhancing services is a win-win-win for all parties."
Adds Denner: "Working with universities and business plan competitions has been an excellent way to source brilliant business ideas from motivated students. Company X will continue funding and incubating student entrepreneurs drawn from colleges across the US." Next up, Company X is participating in the judging panel at Michigan State University's Business Plan Competition.
"We are honored to be recognized and energized by this connection to Company X and Campus Evolution and their confidence in our business plan," says David Chait, Travefy's co-founder and CEO. "The seed funding supports the scaling and commercializing of our group travel planning platform and permits us to build upon the foundation established by earlier angel investment
Travefy (www.travefy.com) is a group travel planner designed to help students avoid the headaches of coordinating multi-person travel. Through Travefy, a user can invite friends to travel, poll dates and locations, collaborate on details, book hotels, and manage expenses. Founded in 2013, Travefy is headquartered in Lincoln, NB and released a pilot in April 2013, followed by a full Beta product in August 2013. In 2013, Travefy also won the top prize at the Columbia Engineering Venture Capital Competition and the Columbia Business School A. Lorne Weil Startup Pitch Competition. The company was named a finalist for the "New Startup of the Year" at the Silicon Prairie Awards, among other honors.
About Company X
Company X (www.Company-X.com) provides early stage capital to student entrepreneurs and entrepreneurs with student-centric businesses. Along with a capital investment, we provide our portfolio companies with free, collaborative office space in New York City, free access to world-class service providers and industry experts, and a platform to pitch their ideas to additional investors. Our vision is simple: Create a world class ecosystem where similarly situated entrepreneurs utilize our resources, leverage each other’s energies and experiences, and take their businesses to the next level. Company X is a collaboration of opportunity, entrepreneurial energy and practical application. Brilliant Ideas. Motivated Students. Our Capital. Our Support. Company X.
About Campus Evolution, LLC
Campus Evolution, LLC is a campus-centric company with a singular focus on delivering an array of needed, useful, sophisticated products, services and platforms to our highly sought after student demographic. Through Campus Evolution Villages, LLC, (www.cevillages.com) the company has built a reputation as a thought leader and change agent setting a new standard in student living. Campus Evolution Villages owns and manages a diverse portfolio of student housing assets across the U.S. It’s a lifestyle built to support the student experience both in and out of the classroom. It is where students study hard and Live Big!