Away

Founded: 2015
Founder: Steph Korey, Jen Rubio
Headquarters: 503 Broadway Fl 3, New York City, New York, 10012, USA
Phone: 888-428-2118
Number of employees: 500
Website: www.awaytravel.com

Overview

Away Travel, commonly referred to as simply “Away,” is a contemporary luggage and travel accessory company founded by Steph Korey and Jen Rubio in 2015. The two founders, both former employees of the popular eyewear company Warby Parker, were inspired to create Away after a broken suitcase mishap during a trip Rubio took to Switzerland. They aimed to design functional and stylish luggage for the modern traveler while providing a seamless customer experience.

Product Offering

The company’s first product, The Carry-On, was launched in 2016 after a successful Kickstarter campaign. The Carry-On was designed with features catering to the needs of the 21st-century traveler, including a built-in battery to charge electronic devices, a durable hard-shell exterior, and a compression system to maximize storage space. This product quickly gained a cult following and received rave reviews from both customers and the press. The success of The Carry-On paved the way for Away to expand its product offerings to a range of luggage sizes and travel accessories.

Over the years, Away has broadened its product line to include various sizes and styles of luggage, such as The Bigger Carry-On, The Medium, and The Large. In addition, the company offers a range of accessories like packing cubes, toiletry bags, and garment bags, ensuring that travelers have everything they need for an organized and efficient trip. Away has also developed a line of pet carriers, The Pet Carrier, to accommodate the needs of pet owners on the go.

Sustainability

Away has been committed to sustainability, and in 2020, the company launched its first sustainable product line, the “Eco Collection.” This collection features luggage made from recycled polycarbonate, a durable, lightweight material. The company also sources its textiles from recycled materials, such as water bottles, and utilizes eco-friendly packaging.

Acquisitions

In its relatively short history, Away has made a few strategic acquisitions to enhance its business operations and product offerings. In 2018, the company acquired the travel organizer app “Dots & Lines” to streamline the travel experience for its customers. The app enables users to store all their travel information, such as flight details, hotel bookings, and local activities, in one convenient location. Away has integrated the app’s functionalities into its online platform, allowing customers to plan and manage their trips more efficiently.

Funding Rounds

Away Travel has raised multiple funding rounds since its inception in 2015, totaling approximately $181 million in venture capital funding. These funding rounds have helped the company to grow, expand its product line, and establish a strong presence in the travel industry. Below are some of funding rounds of Away Travel:

Seed Round (August 2015): Away raised $2.5 million in its seed round, led by Forerunner Ventures and Accel, with participation from Comcast Ventures and Global Founders Capital. This initial funding enabled the company to develop its first product, The Carry-On, and establish its brand.

Series A (September 2016): Away secured $8.5 million in a Series A round led by Global Founders Capital, with participation from Forerunner Ventures, Accel, and Comcast Ventures. This round of funding allowed the company to expand its product offerings and invest in marketing and retail strategies.

Series B (May 2017): The company raised $20 million in a Series B round led by Global Founders Capital, with participation from existing investors Forerunner Ventures, Accel, and Comcast Ventures, as well as new investors Battery Ventures and Wellington Management Company. This funding was used to support the company’s growth, expand its product line, and enhance the customer experience.

Series C (June 2018): Away secured $50 million in a Series C round led by existing investor Forerunner Ventures, with participation from Accel, Global Founders Capital, and Battery Ventures. This round of funding enabled the company to continue its expansion, open more retail locations, and invest in research and development to improve its products.

Series D (May 2019): In its most recent funding round, Away raised $100 million in a Series D round led by Wellington Management Company, with participation from existing investors Forerunner Ventures, Accel, Global Founders Capital, and Battery Ventures. This round valued the company at $1.4 billion, giving it the coveted “unicorn” status. The funds were used to accelerate the company’s growth, expand its international presence, and invest in new products and technologies.

Partnerships and Collaborations

Away has engaged in various partnerships to reach new customers, expand its brand presence, and create unique, limited-edition products. Here are some key partnerships:

Celebrity Collaborations: Away has collaborated with several high-profile celebrities and influencers to create exclusive, limited-edition luggage and accessories. Some notable collaborations include tennis star Serena Williams, model and entrepreneur Karlie Kloss, and actor and producer Rashida Jones. These partnerships have allowed Away to tap into the unique styles and personalities of these celebrities, offering their fans and customers one-of-a-kind products.

Brand Collaborations: Away has partnered with popular brands to launch exclusive product lines that reflect the distinct style and personality of each partner. Some notable brand collaborations include:

A. West Elm: In 2018, Away collaborated with the home furnishing and décor brand West Elm to create a collection of stylish and functional luggage that incorporated West Elm’s signature colors and patterns.

B. Dwyane Wade: In 2019, Away partnered with retired NBA player Dwyane Wade to create a limited-edition line of luggage and travel accessories inspired by his personal style and love for travel.

C. NBA: Away also teamed up with the NBA to create a special edition luggage collection featuring the logos of various basketball teams, allowing fans to showcase their team pride while on the go.

Non-Profit Collaborations: Away has partnered with non-profit organizations to raise awareness and funds for important causes. For example, in 2018, the company collaborated with the non-profit organization (RED) to create a special edition of their signature luggage. A portion of the proceeds from the sale of these products was donated to the Global Fund to support HIV/AIDS programs in Africa.

Dots & Lines Acquisition: In 2018, Away acquired the travel organizer app “Dots & Lines” to streamline the travel experience for its customers. The app enables users to store all their travel information, such as flight details, hotel bookings, and local activities, in one convenient location. Away has integrated the app’s functionalities into its online platform, allowing customers to plan and manage their trips more efficiently.

These partnerships showcase Away’s strategic approach to expanding its brand presence and offering unique products that cater to various customer segments and interests.

Awards and Recognitions

Away has received numerous awards and recognitions for its innovative products, exceptional customer experience, and overall impact on the travel industry. Here are some key awards and recognitions:

Fast Company’s Most Innovative Companies: In 2018, Away was named one of Fast Company’s Most Innovative Companies, recognizing the brand’s commitment to developing high-quality, functional products that cater to the modern traveler’s needs. Fast Company’s annual list highlights businesses that demonstrate exceptional innovation and impact in their respective industries.

Inc. 5000: Away has been featured on the Inc. 5000 list, which ranks the fastest-growing private companies in the United States. This recognition highlights the company’s rapid growth and success since its inception in 2015.

Forbes’ Next Billion-Dollar Startups: In 2018, Away was included in Forbes’ list of Next Billion-Dollar Startups, a compilation of companies with the potential to achieve a valuation of $1 billion or more. The company achieved this milestone in 2019 during its Series D funding round.

Time’s Best Inventions: Away’s signature luggage, The Carry-On, was featured in Time’s Best Inventions list in 2018. This recognition underscores the product’s innovative design, which includes features like a built-in battery for charging electronic devices, a durable hard-shell exterior, and a compression system for maximizing storage space.

Positive press coverage: Away has been featured in numerous prestigious publications such as The New York Times, Vogue, Forbes, and GQ, which have praised the brand for its stylish designs, innovative features, and seamless customer experience. This positive press coverage has contributed to the company’s strong reputation and rapid growth.

Commitment to Social Causes

Away has shown a strong commitment to social causes since its inception, leveraging its success to give back to various communities and support organizations working towards positive change. Here are some company’s social initiatives:

Peace Direct Partnership: Away has partnered with Peace Direct, a non-profit organization focused on supporting local peacebuilding efforts in conflict zones around the world. Through this partnership, Away has committed to donating a portion of its sales to Peace Direct, enabling the organization to expand its reach and impact in communities facing conflict. Peace Direct works with local people to address the root causes of conflict, fostering peace and promoting sustainable development.

Coronavirus Response: In response to the COVID-19 pandemic, Away donated thousands of its travel bags to healthcare workers on the frontlines, providing them with a means to safely transport their personal belongings during the crisis. The company also donated a portion of its proceeds from a limited-time sale event to GlobalGiving’s Coronavirus Relief Fund, which supports communities affected by the pandemic.

Special Edition Products: Away has created limited-edition products in collaboration with various organizations and celebrities to raise awareness and funds for important causes. For example, in 2018, the company partnered with the non-profit organization (RED) and created a special edition of their signature luggage. A portion of the proceeds from the sale of these products was donated to the Global Fund to support HIV/AIDS programs in Africa.

Employee Volunteering: Away encourages its employees to engage in volunteer work and give back to their communities. The company has organized volunteer days in partnership with organizations such as GrowNYC, a non-profit focused on improving New York City’s environment and quality of life. Employees have participated in activities such as building urban gardens, cleaning up public spaces, and supporting food programs for low-income communities.

These information showcase Away’s dedication to social responsibility and its commitment to using its resources and influence to make a positive impact on various communities and global issues. It is important to note that the information provided is accurate up until September 2021, and there may be additional social initiatives undertaken by the company since that time.

Away’s dedication to innovation, design, and customer experience has enabled it to become a major player in the travel industry in just a few short years. By continuously expanding its product offerings, acquiring valuable assets, and forming strategic partnerships, Away has positioned itself as a go-to brand for modern travelers seeking stylish, functional, and sustainable luggage and accessories. As the company continues to grow and evolve, it is expected to maintain its status as a leader in the travel goods market, setting new standards for quality and customer satisfaction.

Disclaimer: Please note that the names and positions of employees mentioned may be subject to change, as individuals may move to different roles or organizations. While we make every effort to keep our information accurate and up-to-date, we cannot guarantee that all employee details are current or complete. We encourage you to verify the identity and positions of any individual mentioned and check their Linkedin Profile before taking any action based on their role.