Locomote Company Profile

Background

Overview

Locomote is a corporate travel technology company founded in 2012, specializing in automating and streamlining business travel management for organizations of all sizes. The company offers a comprehensive platform that integrates booking, approvals, and management processes, aiming to reduce travel costs and enhance efficiency. Headquartered in Melbourne, Australia, Locomote has expanded its reach to serve clients globally.

Mission and Vision

Locomote's mission is to simplify business travel by providing a user-friendly platform that offers full transparency, cost control, and policy compliance. The company envisions becoming a global leader in corporate travel management, empowering organizations to manage their travel programs effectively and sustainably.

Primary Area of Focus

The company's primary focus is on automating the process of organizing, approving, and managing business travel, thereby reducing costs and administrative burdens for companies. Locomote's platform offers features such as travel bookings, policy management, reporting, and duty of care services.

Industry Significance

Locomote has established itself as a significant player in the corporate travel technology industry by providing innovative solutions that address common challenges in business travel management. Its platform has been adopted by various organizations, including universities and healthcare providers, demonstrating its versatility and effectiveness.

Key Strategic Focus

Core Objectives

• Cost Reduction: Automate travel management processes to minimize administrative costs and optimize travel expenditures.

• Efficiency Enhancement: Provide a seamless user experience for travelers and travel managers through an intuitive platform.

• Sustainability Commitment: Implement features that support sustainable travel practices and reduce the environmental impact of business travel.

Specific Areas of Specialization

• Automated Travel Booking: Enable users to book flights, hotels, and ground transportation with ease.

• Policy Compliance: Ensure adherence to company travel policies through automated approvals and guidelines.

• Reporting and Analytics: Offer real-time data and insights to monitor travel spend and identify savings opportunities.

• Duty of Care: Provide tools for traveler safety, including real-time tracking and emergency assistance.

Key Technologies Utilized

Locomote leverages cloud-based technologies to deliver its services, ensuring scalability, security, and accessibility. The platform integrates with various global distribution systems (GDS) and third-party services to offer a comprehensive travel management solution.

Primary Markets Targeted

Locomote primarily targets medium to large enterprises across various industries, including education, healthcare, and professional services. Notable clients include Deakin University, LaTrobe University, and Ryman Healthcare.

Financials and Funding

Funding History

Locomote has undergone several funding rounds to support its growth and development:

• 2014: Travelport, a leading travel commerce platform, acquired a 49% stake in Locomote.

• 2015: Travelport increased its stake to 55%.

• 2016: Travelport acquired the remaining equity, taking full control of the company.

• 2020: The original founders reacquired Locomote from Travelport, aiming to continue their vision of simplifying business travel.

• 2022: Locomote raised a Series B funding round led by Escala Partners, marking its return as an independent entity.

Total Funds Raised

The exact total funds raised by Locomote are not publicly disclosed. However, the company has secured significant investments from Travelport and Escala Partners to support its operations and growth initiatives.

Notable Investors

• Travelport: A global travel commerce platform that initially invested in Locomote in 2014 and later acquired full ownership in 2016.

• Escala Partners: Led the Series B funding round in 2022, facilitating Locomote's return to independence.

Intended Utilization of Capital

The capital raised has been utilized for:

• Product Development: Enhancing platform features and user experience.

• Market Expansion: Extending services to new regions and industries.

• Sustainability Initiatives: Implementing features that support sustainable travel practices.

Pipeline Development

As a technology-driven company, Locomote focuses on continuous development and enhancement of its platform rather than a traditional product pipeline. Key areas of development include:

• Sustainable Travel Features: Integrating tools to help businesses measure and offset their travel emissions.

• User Experience Enhancements: Improving the platform's interface and functionality based on user feedback.

• Integration Capabilities: Expanding integrations with other enterprise systems to provide a seamless experience.

Technological Platform and Innovation

Proprietary Technologies

Locomote's platform is built on proprietary technology that offers:

• Automated Booking System: Streamlines the booking process for flights, hotels, and ground transportation.

• Policy Management Tools: Ensures compliance with company travel policies through automated approvals and guidelines.

• Reporting and Analytics Dashboard: Provides real-time insights into travel spend and policy adherence.

• Duty of Care Features: Includes traveler tracking, emergency assistance, and safety alerts.

Significant Scientific Methods

While specific scientific methodologies are not detailed, Locomote employs data-driven approaches to enhance decision-making and operational efficiency. The platform utilizes machine learning algorithms to analyze travel patterns and optimize booking processes.

AI-Driven Capabilities

Locomote incorporates AI-driven capabilities to:

• Predictive Analytics: Forecast travel trends and expenses to inform budgeting and policy decisions.

• Personalized Recommendations: Suggest travel options based on user preferences and historical data.

• Automated Approvals: Streamline the approval process using AI to assess compliance with travel policies.

Leadership Team

Executive Profiles

• Ross Fastuca: Co-Founder and CEO. Ross has a background in technology and business management, leading Locomote's strategic direction and growth initiatives.

• David Fastuca: Co-Founder and CMO. David focuses on marketing strategies and customer engagement, driving brand awareness and user adoption.

• Pip Spibey-Dodd: Chief Financial Officer. Pip oversees financial operations, ensuring fiscal responsibility and supporting investment strategies.

• Mario Rogic: Chief Technology Officer. Mario leads the technology team, responsible for platform development and innovation.

• Nick Sutherland: Chief Commercial Officer. Nick manages business development and partnerships, expanding Locomote's market presence.

Competitor Profile

Market Insights and Dynamics

The corporate travel management industry is evolving, with companies seeking solutions that offer cost savings, efficiency, and sustainability. The market is characterized by a growing demand for integrated platforms that provide end-to-end travel management services.

Competitor Analysis

Locomote faces competition from several key players in the corporate travel technology space, including:

• Navan (Formerly TripActions): Offers an all-in-one travel management solution with real-time visibility and control.

• TravelPerk: Provides a free travel management tool for booking, tracking, and reporting business travel.

• Amex GBT Egencia: Delivers cost-saving policy compliance and real-time monitoring of travel spending.

• SAP Concur: Simplifies expense, travel, and invoice management for greater visibility and control.

• Expensify: A payments superapp that helps individuals and businesses simplify the way they manage money, including travel booking.

Strategic Collaborations and Partnerships

Locomote has established strategic partnerships to enhance its service offerings.