TourWrist, a Thayer Ventures Portfolio Company, Sweeps the Awards at The Travel Innovation Summit @ The PhoCusWright Conference

TourWrist, a Thayer Ventures Portfolio Company, Sweeps the Awards at The
Travel Innovation Summit @ The PhoCusWright Conference

Thayer's Investment in TourWrist and the Launch of a Industry Advisory Board
of Top Leaders, Cap a Busy Quarter for the Venture Capital Firm

SAN FRANCISCO, Calif., Dec. 3, 2012 (GLOBE NEWSWIRE) -- via PRWEB - TourWrist,
a Thayer Ventures Portfolio Company, swept the awards at The Travel Innovation
Summit @ The PhoCusWright Conference, winning The DEMO Award for the Most
Game-Changing Innovation, the conference award for The Most Innovative
Emerging Company, and The General Catalyst Award for Travel Innovation, which
includes $250,000 investment.

TourWrist provides technology that enables consumers to shoot, publish and
share 360-degree panoramic images via smartphones, tablets and computers; and
helps travel brands effectively market products, properties and destinations
via stunning virtual images.

"We are delighted and honored to have won these awards from our peers and
industry experts," said Charles Armstrong, Founder and CEO of TourWrist.
"Doing so in partnership with Thayer Ventures, our first venture capital
investor, makes the recognition especially exciting."

Thayer Ventures funds innovative emerging technology companies in the $10
trillion global travel and hospitality industry. TourWrist is one of ten
emerging technology brands that comprise the Thayer Ventures portfolio of
companies. A complete listing of the companies is available at
http://www.thayerventures.com.

Chris Hemmeter, Managing Director of Thayer Ventures, said, "We are delighted
to recognize TourWrist's dominant performance at The PhoCusWright Conference
this year and are excited to work with Charles as he executes his strategy in
the travel and hospitality space."

He concluded, "TourWrist is a winning example of our approach to investing,
which is to partner with and support technology companies that are
revolutionizing the travel industry." "The progress we have made, just since
June, validates our approach and vision as we begin the investing cycle with
our second fund."

Building a Peerless Advisory Board

Thayer Ventures is the only venture capital firm specifically focused on
emerging technology companies in the travel and hospitality industry -- its
deep knowledge and unrivaled relationships enable it to provide unmatched
value to technology entrepreneurs.

In the past two months, Thayer Ventures has also added a unique group of
travel and hospitality leaders to its Industry Advisory Board. The additions
include:

  *Barry Sternlicht, Founder and CEO of Starwood Capital Group
  *Don Carty, Former CEO of American Airlines
  *Greg Dollarhyde, CEO of The Veggie Grill
  *Jim Abrahamson, CEO of Interstate Hotels
  *Tom Klein, President of Sabre Holdings
  *Chuck Floyd, COO-North America of Hyatt Hotels Corporation
  *Paul Brown, President of Hilton Worldwide

Hemmeter said, "We are delighted to welcome this distinguished group of
advisors and investors to the Thayer Ventures Industry Advisory Board. We are
grateful for their partnership, and support."

The Industry Advisory Board not only represents investors in the firm, but
also significant sources of deal flow, due diligence capabilities, and top
supplier relationships for portfolio companies. The Thayer Ventures Industry
Advisory Board is expected to grow further in the months ahead.

About Thayer Ventures

Thayer Ventures is the only venture capital firm specifically focused on the
hospitality industry. Since its founding in 2009 as Quest Hospitality
Ventures, the firm has partnered with entrepreneurs to create, develop and
build technology companies that will revolutionize the hospitality industry.
Based in San Francisco, Thayer Ventures currently supports some of the world's
leading travel technology companies, including Hipmunk, hotelme.com, Nor1,
Adara Media, Duetto Research, newBrandAnalytics, and ID90T. Additional
information is available on the company's website:
http://www.thayerventures.com.

About TourWrist

TourWrist is the world's leading virtual tour platform. The company employs a
model similar to YouTube (but uniquely suited to panoramic virtual tours). The
company mission is to improve how consumers make educated, location-based
travel decisions. 'TourWrists' can easily shoot and upload their own panoramic
images, or browse and share any of the 55,000+ geo-tagged panos already
uploaded. The global TourWrist platform (apps, mobile web and website) is on
track to reach tens of millions of travelers in 2013, complete with
localization for many major languages. For more, please visit
http://www.TourWrist.com.

This article was originally distributed on PRWeb. For the original version
including any supplementary images or video, visit
http://www.prweb.com/releases/venturecapital/innovation/prweb10194697.htm

CONTACT: M FRENKEL COMMUNICATIONS, INC.
         MICHAEL FRENKEL
         michael@mfcpr.com
         (212) 808-5669