The Wanderlust Group, a Rhode Island-based startup that makes software for the boating sector, announced that it has closed a $14.2 million Series B round, held in October 2020. The investment was made by Allen & Company and the Alaris family office.
The startup has expansion plans. It noticed that some of its customers were practically hacking the boating software to include RV rentals, so it wants to branch out from the marina and boating sector into the RV market.
The Wanderlust Group has two divisions, Dockwa and Marinas.com. Dockwa is a software suite which helps marinas to manage their businesses, right from customer acquisition to operations. Wanderlust had acquired Marinas.com in 2017. It is a classified service for marinas.
Dockwa’s marina software costs between US$ 1,000 and US$ 30,000 yearly, depending on the complexity of the operation.
The startup has always had a remote-friendly culture but has switched entirely to a remote model in March due to the pandemic and hence it is a very flexible service for its customers.
What the founder has to say
“There’s no doubt that Covid was a catalyst for a lot of systemic change for everyone. We were fortunate to be in the boating industry when this was going down. Candidly, a lot of these waterfront communities would not have survived without the boating industry,” said Mike Melillo, CEO and co-founder at TWG.
“Our entire mission is to try to help people get away from their devices, ironically. If we’re doing our job, you’re not looking at your screen. We don’t think there are many things better than getting the hell away from our devices, which I know is a little counterintuitive for a technology company to say,” he added
According to him, the last three months have been the three best months in TWG’s history. The rapid growth had caught the eyes of investors.
About TWG
The Wanderlust Group comprises Dockwa, Marinas.com and additional outdoor-focused brands to be developed in the future, co-founded by Mike Melillo, Matt Fradette, John Nagro and Tyler Kneisel. TWG was founded in 2014, Dockwa was launched in 2015 and Marinas.com was acquired in 2017. Marinas.com has more than 9,000 Marinas Listed in 70 Countries. It is headquartered in Rhode Island, USA.
About Allen & Company
Allen & Company is a family-owned investment and advisory firm based in New York, which focuses on M&A and capital raises, technology, media, healthcare, and sports sectors. It was founded in 1922 and has its headquarters in New York, USA.
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