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- Founded: 2012
- Ceased Operations: 2019
What did Utrip do?
Utrip was a travel technology company that aimed to revolutionize the way people plan and personalize their trips. Utrip developed an artificial intelligence-powered platform that utilized machine learning algorithms and traveler preferences to create customized itineraries. Utrip’s technology combined a vast travel database that had been curated by local experts with predictive algorithms to create personalized itineraries for each traveler.
Utrip also had a white-label product called Utrip PRO which was sold to hotels, travel agencies, and DMOs (Destination Marketing Organizations) that wanted to offer travel planning on their websites. Utrip raised over $10 million in funding from investors such as Jeff Clavier and Matt Rogers.
Who started Utrip?
Founders Gilad Berenstein, Yair Berenstein
Why did Utrip go out of business?
Utrip was unable to find a sustainable business model. Utrip’s revenue came from licensing its technology to travel agencies and other businesses. However, Utrip was unable to generate enough revenue to cover its costs. Utrip faced stiff competition from other travel planning services. Companies such as TripIt and Google Trips offer similar features to Utrip, and they have much larger user bases.
Utrip was also hurt by the rise of social media. Many travelers now use social media to plan their trips. This means that they are less likely to use a travel planning service like Utrip.