eola

eola is a London-based software company that builds what it describes as an operating system for experience and leisure businesses, such as surf schools, watersports centres and other activity providers. The platform lets these operators take bookings online, digitise and automate administrative processes, and manage day-to-day operations, positioning itself as a faster and simpler alternative to older, more complex or enterprise-only systems in the sector.

The product is delivered as a self-service SaaS platform and is designed for mobile use, including in low-connectivity environments, reflecting the field conditions of outdoor activity operators. eola also operates a consumer-facing marketplace where enthusiasts can find and book activities, connecting activity providers with participants. The company frames its market analogy as doing for the leisure industry what Shopify did for e-commerce.

Founding story

Co-founders Callum Hemsley and Dan Steele joined forces in 2017 after Hemsley, having tried surfing in Scarborough, found it difficult to discover and book further activities online. Speaking with business owners and consumers around the UK, the pair concluded that the activities industry remained largely offline because of a lack of usable tools and automation. The company name comes from the Hawaiian word meaning "to live", chosen from a shortlist the founders assembled while researching verb conjugations in different languages. The business was initially self-funded from the founders' savings, with the product built over roughly 18 months before its first outside investment and commercial launch.

Business model

eola sells a self-service SaaS platform to experience and leisure service businesses, which use it to manage and automate bookings and operational processes. It also runs a marketplace surfacing activities to consumers.

Revenue is derived from providing its software platform to activity and experience businesses on a self-service SaaS basis.

Traction

The company states it works with hundreds of activity businesses and that its platform has served hundreds of thousands of people around the world. Team size grew from nine people in January 2020 to 28 in 2021, split roughly evenly between remote developers and a London-based commercial team covering marketing, sales and partner operations.

Latest developments

In 2021 eola secured a £2 million venture capital round led by Pentech Ventures, following earlier funding from syndicates and angel investors, and was expanding its team toward roughly 34 people by the end of that year.