As the travel industry prepares for the Phocuswright Conference 2025, taking place November 18–20 at the Manchester Grand Hyatt in San Diego, California, Phocuswright revisited the journeys of its Hot 25 Travel Startups 2023 alumni. Three years on, these companies have not only survived but thrived, validating Phocuswright’s role as the leading authority in identifying the innovators set to disrupt the global travel ecosystem.
Fora Travel: Scaling the modern travel advisor
Henley Vazquez, Co-founder and CEO of Fora, has led the company through a period of rapid growth, raising more than $60 million in Series B and C funding. With $1.8 billion in bookings and over 3 million nights booked across 92 countries, Fora has become a force in reimagining the travel advisor model.
“We’ve always believed that travel advisors are not obsolete, they’re essential,” Vazquez said, emphasizing the importance of blending technology with human expertise. “By equipping them with modern tools and AI-driven personalization, we’re proving that curated, human-led travel planning can scale globally.”
The acquisition of AI startup Legends has further strengthened Fora’s ability to deliver hyper-personalized itineraries, positioning the company as both a tech innovator and a community builder.
Fetcherr: AI-powered pricing at global scale
Roy Cohen, Co-founder and CEO of Fetcherr, describes 2025 as a landmark year: “The completion of our third round of funding, led by Salesforce Ventures, and the opening of our global offices in Warsaw, Miami, Chicago, and Tel Aviv have been major milestones. Successfully onboarding new clients and seeing outstanding results has been incredibly rewarding.”
Cohen acknowledges the challenges of rapid growth: “Our biggest challenge right now is accommodating the demand and fast scale-up.” He also notes a shift in investor sentiment: “There’s less interest in AI language models – more interest in AI that creates true added value to the business. Investors want product and enterprise infrastructure solutions that deliver measurable impact.”
Fetcherr’s AI-driven dynamic pricing and forecasting tools are now used by airlines worldwide, proving that data-driven decision-making can transform revenue management.
Neoke: Building the future of digital identity
Pieter van der Does, CEO of Neoke, has positioned the company at the forefront of trusted digital identity in travel. Neoke’s vision of “agentic travel” – where intelligent systems act on behalf of travelers – is gaining traction as governments, airports, and airlines seek interoperable, privacy-first solutions. “The future of travel is seamless, secure, and borderless”, Van der Does explained. “Our mission is to empower travelers with a digital identity that works across the ecosystem, reducing friction while enhancing trust.”
With pilots underway in Europe and Asia, Neoke is proving that digital identity is not just a compliance tool but a foundation for a new era of personalized, secure travel.
Game On: The Phocuswright Conference 2025
This year’s Phocuswright Conference theme, “Game On,” is a rallying cry for the industry to level up or risk being left behind, in such fast-changing times. The event will bring together global leaders, investors, and innovators to debate the strategies shaping the next decade of travel.
And as the show gears up to announce the top 25 startups poised to shake up the industry in 2026, Pete Comeau, Managing Director at Phocuswright, underscores the importance of spotlighting these new companies: “Looking back at the 2023 Hot 25, it’s clear these companies weren’t just flashes of innovation; they’ve become forces of change. As we prepare to reveal the 2026 list, the message is clear: the travel industry’s future is being written by bold startups that combine vision with execution.”
