Updated: May 27, 2020
The Alleghenies Angel Fund, LLC is announcing that the Fund has invested in TravelWits, a company that uses artificial intelligence to develop complete door-to-door travel itineraries.
The Alleghenies Angel Fund, LLC was founded in 2019 by a group of investors and entrepreneurs in the Southern Alleghenies region, which includes Altoona, Johnstown, Somerset, and surrounding areas. The purpose of the organization is to provide resources and a community of entrepreneurs to connect with. Fund members are accredited and experienced investors who are interested in providing seed, or growth, capital investments to startup companies in the region and beyond.
"Our members were very excited about this next generation product, particularly our members who use other products to manage their corporation’s travel. They quickly identified the advanced features this product offers. We expect TravelWits to disrupt the travel planning and purchasing marketplace."
$1.3 million in investment has been dedicated to support seed- to mid-stage investments in private companies and entrepreneurs that demonstrate the potential for scalable, sustainable and profitable operations. The Fund members began accepting applications and interviewing entrepreneurs in September 2019.
The Fund members has finalized their first investment in TravelWits, the world’s first travel search powered by true artificial intelligence. The company is located in Pittsburgh and was founded by two Carnegie-Mellon University Professors and Penn State graduates who are all specialists in computer science. The TravelWits Travel Search Engine uses artificial intelligence to develop full door-to-door itineraries that minimize cost and maximize value for travelers.
“The Alleghenies Angel Fund is pleased to be investing in TravelWits. Our members were very excited about this next generation product, particularly our members who use other products to manage their corporation’s travel. They quickly identified the advanced features this product offers. We expect TravelWits to disrupt the travel planning and purchasing marketplace," said Justin Mandel, Chairman of the Alleghenies Angel Fund.
More entrepreneurs and startups are being considered for investment at this time. Entrepreneurs who would like to be considered for investment by the Alleghenies Angel Fund can visit the web site at allegheniesangelfund.com for application instructions.