Aarhus-based startup Understory has raised €12 million to accelerate its growth in the global experience market, which McKinsey & Company estimates is worth more than $3 trillion, growing around six percent each year.
This Series A investment is led by London-based Smedvig Ventures, with participation from new investors People Ventures and Sequel. Existing investors Seed Capital and Firstminute Capital have also reinvested.
“We are incredibly proud. This is an important recognition of the work we have put in over the past few years and of the vision we are pursuing. The investment gives us the opportunity to take Understory to the next level. Let there be no doubt: our ambition is to revolutionise the experience industry,” says Lasse Kjær, CEO and Co-founder.
Founded in 2023, Understory provides an AI-driven platform that combines booking, payment, and marketing in one system. The platform equips experience providers with the necessary tools and automates workflows so they can realise their full growth potential.
Understory’s vision is to make it easier for people to create and share meaningful experiences. At a time when younger generations are spending more time and money on experiences yet nearly 50% of all commerce, according to McKinsey & Company, still happens offline, the industry faces a paradox: Guests expect to discover, decide, and book in the same moment, while providers are stuck with outdated systems.
“With this investment, we can further develop our product and infrastructure while also expanding Understory internationally. By entering new markets, even more experience providers will gain access to our tools so they can attract more guests, open new revenue streams, and focus on what matters most: delivering unforgettable experiences,” says Kjær.
This is not the first time Kjær, together with his Co-founder Lars Rasmussen, has built a fast-growing company. Previously, they founded Truestory, which has since reportedly become the largest experience portal in the Nordics.
While still running Truestory, they came up with the idea for Understory after seeing how providers were left on their own to manage administration, marketing, and finances with minimal support. They also recognised that digitalisation in the industry was lagging.
It is a clear challenge in the industry – one Understory intends to solve. Today, the company already serves customers in ten countries. The investment milestone comes at a time when, according to Statista, more than half of the U.S. workforce will be freelancing by 2027. The trend reflects a growing desire to leave traditional employment in order to build independent businesses.
“Understory stands out with a stellar team, a clear vision, and a product that is only at the beginning of its journey to enable experience providers globally. We look forward to supporting the company’s journey and seeing how it creates even more value for both businesses and their guests,” says Jonathan Lerner, Partner at Smedvig Ventures.
Beyond its core product, Understory has launched initiatives such as Female Founders Lab, an academy for women who want to create or grow their experience-based businesses with support and mentoring along the way.
“It is inspiring to see how quickly Understory has grown into a change-making company. The experience market is massive, but it is the people behind it who make the difference. We are backing a company that provides hosts with the right tools to succeed – and that is exactly the kind of impact we want to support,” says Ulla Brockenhuus-Schack, Founder and General Partner at Seed Capital.
Read the orginal article: https://www.eu-startups.com/2025/09/danish-traveltech-platform-understory-raises-e12-million-to-unite-tools-for-experience-providers-under-one-roof/
