HOUSTON, March 18, 2024 (GLOBE NEWSWIRE) -- Mallard Bay, the fastest SaaS-enabled marketplace for hunting and fishing adventures, today announces the closure of its $4.6 million Series A funding round. Led by Soul Venture Partners, the round also saw follow-on investments from existing investors Acadian Capital Ventures, along with contributions from a variety of new and existing angel investors.
Exploring the Multibillion-Dollar Outfitter Industry
Outdoor adventures are powered by a staggering $500 billion annual global expenditure, according to various sources, with Americans alone spending $144.8 billion on fishing and hunting in 2022, according to the U.S. Fish and Wildlife Survey. Trip-related expenses constituted $48.9 billion (34%), equipment accounted for $60.3 billion (42%), and other expenses totaled $35.4 billion (24%). This robust spending not only emphasizes the economic significance but also the enduring cultural appeal of these pursuits. Within this domain, outfitters play a crucial role, offering expertise, comfort, and premium equipment to enhance enthusiasts' experiences.
Meanwhile, the outfitting industry, made up of the people and businesses that provide customers with the guides, lodging, and equipment they need to be successful in the field, commands an impressive global market worth $61.8 billion annually. This estimation, drawn from diverse sources, reflects a consistent compound annual growth rate of 6%, signaling sustained industry expansion. Despite this promising trajectory, many outfitters grapple with outdated paper-based systems, hindering their operational efficiency and potential for growth. Nevertheless, the demand for unique recreational experiences, further fueled by the COVID-19 pandemic, presents a ripe opportunity for investors and entrepreneurs to capitalize on the outfitter industry's thriving market and drive innovation within the sector.
Mallard Bay: Revolutionizing Outfitter Engagement and Dominating the Market
Launched in late 2021, Mallard Bay has swiftly become the prominent provider of user-friendly booking platforms for outdoor enthusiasts seeking hunting and fishing excursions with trusted outfitters and charters across North America. Their cutting-edge SaaS solution is tailored to address the challenges faced by outfitters, offering seamless online booking management, a flexible calendar system, and frictionless payment collection. Mallard Bay's focus on modernizing the booking process aims to revolutionize the $250 billion hunting and fishing industries.
Mallard Bay's cutting-edge technology empowers outfitters in today's competitive landscape, offering real-time trip marketing, seamless booking, and centralized client management features. With over 380 charters and outfitters onboarded, spanning 38 states and seven countries, including industry leaders like Cadillac Creek Outfitters and Buffalo Nickel Lodge, Mallard Bay is poised for global expansion. Their vertical SaaS software is finely tuned to meet the specific needs of hunting and fishing guides, cementing its role as an indispensable partner deeply integrated into their workflows. Committed to innovation and outfitter success, Mallard Bay leads the market, driving efficiency and opportunity in the outdoor industry.
Unleashing Outfitter Power: Mallard Bay's GuideTech SaaS Technology
Mallard Bay unveils GuideTech, the ultimate solution empowering guide and charter services to revolutionize their operations. With GuideTech, managing calendars, reaching new clients, and accepting payments seamlessly converge into a single, powerful platform. This all-encompassing tool is meticulously designed to streamline every aspect of running a guide or charter service, offering unparalleled efficiency and convenience. GuideTech's features include:
- Simplified Booking Process: Outfitters benefit from instantly scheduling appointments and managing reservations effortlessly, optimizing their operational efficiency.
- Secure Payment Processing: Outfitters can accept payments swiftly and securely, elevating customer satisfaction and fostering trust in their services.
- Advanced Calendar Management: Outfitters stay organized and efficient with intuitive calendar tools, ensuring seamless scheduling and resource allocation.
- Tailored Digital Marketing: Outfitters can effectively reach their target audience through customizable email campaigns and targeted paid advertisements, enhancing their market presence and driving business growth.
- Expert Support: Outfitters receive hands-on assistance and guidance from Mallard Bay’s dedicated support team, ensuring they have the necessary resources to succeed.
- Custom Website Integration: Outfitters showcase their services with a personalized website that reflects their unique brand identity, captivating potential clients and enhancing their online visibility.
GuideTech is poised to revolutionize the outfitters industry, providing a comprehensive solution to meet the evolving needs of modern businesses.
Mallard Bay's Impressive Milestones
Mallard Bay has experienced remarkable growth over the past year and anticipates that the new funding will further accelerate this upward trajectory. Since its inception, Mallard Bay has achieved impressive milestones:
- In January 2024, transaction volume surpassed the total transaction volume recorded in the entire year of 2022 and almost all of Q1 2023.
- Throughout 2023, Mallard Bay achieved an extraordinary 600% year-over-year growth rate.
- Mallard Bay generated over $8 million in total trip bookings over the past two seasons.
- The platform successfully onboarded over 380 outfitters spanning across 38 states and seven countries.
- Mallard Bay has facilitated memorable experiences for more than 4,500 sportsmen and women over the past two seasons.
These achievements underscore Mallard Bay's commitment to providing exceptional services and highlighting its rapid expansion within the outdoor adventure industry.
"As passionate sportsmen and women ourselves, we're thrilled about this funding milestone for Mallard Bay. Our leading SaaS GuideTech product is revolutionizing the outdoor experiences industry, simplifying the process of booking hunting and fishing trips for both outfitters and enthusiasts. We recognized a need for improvement in this area, and we're grateful for the support of our investors, including Soul Venture Partners and Acadian Ventures. With this Series A funding, we're poised to spearhead further innovation in the outfitting industry," said Logan Meaux, CEO and Co-Founder of Mallard Bay.
"We're pleased to announce our partnership with Mallard Bay, recognizing their significant impact in the outdoor experiences sector. Through their innovative SaaS technology, GuideTech, Mallard Bay has effectively addressed key challenges for outfitters, enhancing bookings and operational efficiency. Positioned uniquely, Mallard Bay is poised to lead the way in the hunting and fishing market, shaping the future of outdoor adventures,” said Prasanth Chilukuri, Managing Partner of Soul Venture Partners.
“We are happy to close this funding round and add Soul Ventures to our team of stakeholders. The pieces are now in place with an experienced team, growth funds, and industry-leading software to offer our outfitters, charter captains and sports enthusiasts the tools they need to grow their business and enjoy the outdoors nationwide and soon around the world,” said Chris Meaux, Chairman of Mallard Bay.
"Mallard Bay has truly transformed the way we do business at Cadillac Creek. Mallard Bay’s GuideTech system streamlines payments, calendar management, and client communication, which has freed up more of my time to focus on what matters most. Through using GuideTech, we’ve been able to cut administrative time by about ten hours per week and reduced our time to collect deposits from about seven days to minutes. The system has also helped to normalize our cash flow, which enabled us to build a new lodge, adjust our pricing, and essentially double our capacity over the past two seasons,” said Toby Brohlin, Owner of Cadillac Creek Outfitters.
About Mallard Bay
Mallard Bay is the premier online marketplace for outdoor enthusiasts to discover and book guided hunting and fishing trips with trusted outfitters and charters across North America and beyond. Founded by Logan Meaux (CEO), Joel Moreau (COO), Tam Nguyen (Lead Engineer), and Wyatt Mallett (VP of Customer and Industry Success) during their time at Louisiana State University, Mallard Bay offers the most seamless booking experience for outdoor enthusiasts, providing real-time availability, secure payments, and quality assurance for sportspeople. Since fully launching in November 2021, Mallard Bay has on boarded over 380 outfitters and charters offering hundreds of guided experiences across 38 states and seven countries.
Investors in Mallard Bay include Soul Venture Partners, Acadian Capital Ventures, The Softeq Venture Studio, Callais Capital, Varco Investments, and the Rio Grande Valley Angel Network. For more information about Mallard Bay or to book your next outdoor adventure, visit MallardBay.com, visit us on Facebook, X/Twitter, Instagram, YouTube, LinkedIn, or contact support@mallardbay.com for partnership and corporate trip inquiries.
Media Contact
John McCartney
Jmac PR for Mallard Bay
john@jmacpr.com
646.280.8573
