Travel App Localeur Raises an Additional $500,000 from Angel Investors - Black Enterprise
Black Enterprise Magazine September/October 2018 Issue

Several months ago, Localuer, a community of locals who share their favorite places to eat, drink and play with travelers, was closing up an Angel round that equated to approx. $3 million. Well, fast forward, Localeur has made some additional strides in their journey.

User Interface (Image: Localeur)

User Interface (Image: Localeur)

 

Recently the company announced it now has funding from five Texas-based angel groups including Central Texas Angel Network (Austin), Cowtown Angels (Fort Worth), Houston Angel Network, Rio Grande Valley Angels (South Texas) and San Antonio Angel Network. Combined. Total these members have invested more than $500,000.

In 2017, Localeur expanded its community of locals to 65 cities including Australia, Canada, England, Hong Kong, Mexico and Spain, launched a quarterly print magazine available through its online shop and expanded its partnership with JetBlue Airways.

“Raising funds from these five Texas-based angel groups is a testament to both Localeur’s continued growth and to the support Texas angels provide to entrepreneurs here,” said founder and CEO, Joah Spearman, in a statement. “The more than $500,000 we have secured from these Texas angel groups has helped us scale Localeur globally without spending time, energy and resources seeking venture funding in Silicon Valley as many entrepreneurs are obligated to do.”

“As a member of Houston Angel Network, I am exposed to the most exciting startups in Texas,” added Wendy Nunnelley, board-member for Houston Angel Network. “It is very impressive to see Localeur’s growth from 2013, when it first launched in Austin then Houston, to today as it serves travelers in more than 60 cities around the world. I am very excited for Localeur’s continued growth, as its brand and content reach more travelers in 2018.”

To date, Localeur has raised more than $3.5 million exclusively from angel investors and has announced several new members of its Advisory Board that include a slew of creatives namely, Marta Djordjevic, a Vancouver-based film blogger, James Drakeford, a Columbus, Ohio-based photographer and social media strategist, Darren Griffin.

These are great strides for this company in a time where black founders feel like they are not getting the investments that they need in order to survive.

Join the Conversation

Sequoia Blodgett

Sequoia Blodgett is a Reporter for Black Enterprise. She is also the founder of Commas, a consulting firm that gives entrepreneurs access to top tech and creative resources to help them grow their business.


MORE ON BlackEnterprise.com