Danish TravelTech Platform Understory Raises €12 Million In Series A Round

The round is led by Smedvig Ventures, with new investors People Ventures and Sequel, alongside reinvestments from Seed Capital and Firstminute Capital.

“We are incredibly proud. This is an important recognition of the work we have put in over the past few years and of the vision we are pursuing. The investment gives us the opportunity to take Understory to the next level. Let there be no doubt: our ambition is to revolutionise the experience industry,” says Lasse Kjær, CEO and Co-founder.

Founded in 2023 Understory offers an AI-powered platform that integrates booking, payment and marketing, helping experience providers streamline workflows and maximize growth. With a focus on making it easier to create and share meaningful experiences, the platform addresses the industry gap where nearly half of commerce remains offline despite rising demand for instant discovery and booking.

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“With this investment, we can further develop our product and infrastructure while also expanding Understory internationally. By entering new markets, even more experience providers will gain access to our tools so they can attract more guests, open new revenue streams, and focus on what matters most: delivering unforgettable experiences,” says Kjær.

This isn’t Kjær and co-founder Lars Rasmussen’s first venture. They previously built Truestory, now reportedly the largest experience portal in the Nordics. While running Truestory, they identified a gap: experience providers struggled with administration, marketing, and finances amid slow industry digitalisation.

Understory aims to solve this challenge and already serves customers in ten countries. The investment comes as freelancing rises, with Statista projecting that over half of the U.S. workforce will be independent by 2027 reflecting a growing shift toward entrepreneurship.

“Understory stands out with a stellar team, a clear vision, and a product that is only at the beginning of its journey to enable experience providers globally. We look forward to supporting the company’s journey and seeing how it creates even more value for both businesses and their guests,” says Jonathan Lerner, Partner at Smedvig Ventures.

Beyond its main platform, Understory has introduced initiatives like the Female Founders Lab, an academy offering mentorship and support to women looking to start or scale experience-based businesses.

“It is inspiring to see how quickly Understory has grown into a change-making company. The experience market is massive, but it is the people behind it who make the difference. We are backing a company that provides hosts with the right tools to succeed and that is exactly the kind of impact we want to support,” says Ulla Brockenhuus-Schack, Founder and General Partner at Seed Capital.

About Understory

Founded in 2023, Understory is an all-in-one platform for experience creators, simplifying bookings, payments, and marketing. By handling the operational tasks, Understory lets hosts focus on creating unforgettable experiences. Like the understory in a forest it nurtures growth, fosters connections and empowers passionate hosts to transform their ideas into thriving, impactful businesses.