15below gets investment from LDC to accelerate growth

15below, a United
Kingdom-based provider of communications software for travel suppliers, has
received what it calls a “significant investment” from LDC, the private equity
arm of Lloyds Banking Group. 

The amount of the
investment is not being disclosed, but according to the LDC website its
investments usually range from between £10 million and £50 million in each
transaction.

Founded in 2000, 15below
currently works with more than 60 airlines, rail operators, travel agencies and
travel management companies around the world, including British Airways, Cathay
Pacific, CWT and TUI, as well as being a strategic partner to global airline
software providers Amadeus and Navitaire. 

Its solutions enable
travel companies to provide operational updates on travel itineraries,
booking confirmations and boarding passes, pre-departure communications as well
as real time updates on schedule changes and unplanned disruption while
removing the risk of human error in communications.

“We
put our customers and their passengers at the heart of everything we do, and
our ultimate goal is to help travel companies go above and beyond when it comes
to communications and customer service. We’re incredibly proud of the business
we’ve built over the last two decades and the strength of our proposition,”
said Nicholas Key, co-founder and CEO of 15below.

“LDC
is known for its commitment to supporting growth and innovation in businesses
like ours. Their ethos of placing a high value on people and culture resonates
deeply with us at 15below, making them the perfect partner as we embark on this
next phase of our journey. This partnership is not just a testament to our past
achievements, but a vote of confidence in our vision for the future.”

15below said it plans to use the investment for further development of its software and to support existing and new clients as it embarks on a five-year growth strategy. 

“The
importance of technology in providing seamless, hassle-free communications to
customers across sectors continues to increase, and this is particularly
evident in the global travel industry which has bounced back significantly
since the COVID-19 pandemic,” said Aylesh Patel, partner and head of the south region at
LDC.

“Nick
and the team at 15below are incredibly ambitious. They’ve not only developed a
platform that meets this growing need but have cultivated a culture where
talent can thrive and together this is fuelling the company’s growth. We’re
excited to invest and support them to extend their capabilities, bringing to
life more of the exciting ideas in their product roadmap.”

LDC
focuses its investments on companies based in the U.K. The company said it is
committed to investing in at least 100 companies over the next five years.