Brighton travel tech firm 15below secures LDC backing
15below, a Brighton business specialising in passenger communications for the travel industry, has secured investment from LDC to drive its five-year growth plan.
Launched in 2000, 15below has grown to employ more than 90 people across the UK, Australia, India, Germany and Turkey.
Its proprietary software platform enables its clients – mostly airlines – to keep passengers informed at every stage of their journey with minimal human intervention.
The platform provides operational updates on travel itineraries, booking confirmations and boarding passes, pre-departure communications, and real-time updates on schedule changes and unplanned disruption.
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15below now has the backing of LDC, a private equity investor of Lloyds Banking Group, as it looks to further invest in its technology.
Nicholas Key, co-founder and CEO of 15below, said: “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.”
As part of the transaction with LDC, former Amadeus executive and airline technology chair Ian Wheeler is set to join 15below as chair.
The deal was led by LDC’s team in the South and London, including partner and head of South Aylesh Patel, and investment managers Josh Wachman and Francesca Speke. Aylesh and Josh will also join the board as non-executive directors.
Aylesh added: “The importance of technology in providing seamless, hassle-free communications to customers across sectors continues to increase.
“This is particularly evident in the global travel industry, which has bounced back significantly since the Covid-19 pandemic.
“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.”
Since 2012, LDC has invested over £650 million into more than 35 fast growing technology businesses.
Its current portfolio includes cloud-based technology platform Uinsure; specialist database, cloud and applications managed service provider DSP; and sustainability data and technology provider Sedex.
PwC advised the firm on its latest deal, while 15below was advised by Clearwater International.
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