Alabama Futures Fund (AFF) recently invested in Sequense Corporation. Based in Austin, Texas, Sequense is a workflow automation software platform created to supercharge travel agency business operations for independent and enterprise scale travel advisors. Sequense’s goal is to streamline travel business processes to save time, increase profitability, and elevate the reputation of its travel advisor customers.
In connection with the funding from AFF, Sequense and its CEO Kimber Falkinburg, will relocate the company’s headquarters to Birmingham, Alabama. Sequense was recruited to Birmingham through the combined efforts of AFF and Birmingham Bound.
According to global and U.S. industry reports from IBISWorld, there are about 84,000 travel advisor enterprises in the U.S. and 164,000 globally. And within those enterprises, there are about 402,000 travel advisors in the U.S. and 1.8 million globally. The global travel advisor sector is expected to reach aggregate 2023 revenues of approximately $474.7 billion with reported net profits of approximately $32.3 billion and a projected compound annual growth rate of approximately 2.2% between 2023-2028.
Sequense’s automation platform for travel advisors enables users to elevate their business and capture more of the growing travel market. And by entering a few key data points, the Company’s software organizes hundreds of tasks by stage of workflow and work type. This platform provides visibility for each advisor on outstanding tasks to be completed utilizing an easy-to-learn project management tool. Users experience increased capacity and efficiency, reduce costly errors and omissions, and can onboard and upskill new travel advisors quickly.
This represents the eighteenth investment from AFF since launching in Q3 of 2018. And Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager of AFF and advises AFF on the Sequense investment.
KEY QUOTES:
“We’ve discovered more than a location in Birmingham – we’re tapping into a wellspring of potential. We’re becoming immersed in a community fostering local talent and innovation, an ideal environment for our growth. At Sequense, we’re not just building a business but committed to uplifting both the Company and the entire Birmingham community.”
— CEO Kimber Falkinburg
“We are excited about our investment in Sequense and can’t wait for Kimber to join Birmingham’s growing startup ecosystem. Not only is the travel advisory space a massive market, but it is also a market that has historically not generated significant investment from the venture capital community – meaning the Company has an opportunity to grab significant market share without facing the same level of competition as other sectors.”
— Redhawk Partner Mickey Millsap
