Bootstrapped + Gov’t grants + IPO
Corporate travel agents
2007
Enterprise sales
Travel booking software
Serko traces its roots back to the 1990s, and in 2007 Darrin Grafton and Robert Shaw formally founded the company in its current form.
In 2012 Serko received a NZ$2.3 million grant from Callaghan Innovation. The company listed on the NZX in June 2014.
Early users were corporate travel agencies and large enterprises seeking streamlined online booking through Serko’s platform.
Startup Rollercoaster
The Spark
In 2007, Darrin Grafton and Robert Shaw founded Serko to modernise corporate travel booking via a cloud-based solution.
The Peak
In 2012 Serko received a NZ$2.3 million grant from Callaghan Innovation for R&D. In June 2014 Serko successfully carried out an IPO on the NZX Main Board.
The Drop
After listing and scaling, Serko was under pressure to grow transaction volume and revenue, while the cost base (product development, acquisitions) was also increasing.
The Reset
Serko acquired the expense management provider Incharge, and in May 2015 acquired Arnold Travel Technology Pty from Expedia. These moves helped expand its product offering and customer base.
The Discipline
Serko focused on investing in product development and R&D (e.g. this included predictive technology, integrating travel and expense tools), managing partnerships with Travel Management Companies (TMCs), and improving its internal capabilities.
The Climb
With its platform maturing and broadened product suite, Serko expanded internationally (including into China for product development), achieved growth in recurring transactional revenue, and strengthened its position in Australasia.
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