Case Study | iCruise
New Road Media seed invested in, helped launch, created new revenue streams and secured PE financing for a NYC based travel tech company.
The entrepreneur was a brilliant marketer and technologist. He approached New Road Media prior to build asking to help him create the first of its kind cruise booking consumer site and tech platform connected directly to the cruise lines’ reservation systems. At the time such technology did not exist; it was a pipedream.
New Road Media stepped in to become the venture’s inaugural seed investor and a value add partner in its success. It brought in other angel investors (colleagues) to the venture, secured a partnership with the Travel Channel, and created an entire new ancillary business for the venture in the shore trips area.
The partnership with the Travel Channel immediately created the consumer side of the business to flourish, cash flowing quickly. Integration with the cruiselines occurred and PE firms took notice with Riverside Ventures acquiring the company.
Road Media leveraged the entrepreneur’s great strengths, vision and capabilities to get other influentials involved and thus help the venture grow and prosper.