Operating model — Series A · April 2026

56 humans.
Six agents.
One family profile that compounds.

This page is the argument that the 27,000-person aggregator is structurally obsolete. Not a headcount chart — the mechanics. How the company actually runs at 10:47pm on a Tuesday.

Headcount · total 56
Engineering 50
Partner Ops 6
GTM 0
We don't compete for Google rank. We compete for an API call from Claude.
Design
Embedded in engineering. Every PM ships pixels.
Revenue per employee
€300k
Juno, by month 18
€90k
Booking.com today
3.3× the output
Scale comparison
56
Juno
~27,000
Booking.com
The agent stack

Six agents do the work 4,000 people used to.

01 · Memory

Memory agent

Reads every past trip, review, and reservation. Writes the family profile that feeds every other agent.

02 · Matching

Matching agent

Scores every property on fit for the full family — occupancy, accessibility, proximity, dietary.

03 · Partner brief

Partner brief agent

Sends the pre-arrival brief to the hotel. Negotiates the cot, the shower, the early check-in before you ever speak to anyone.

04 · Occupancy

Occupancy agent

Solves the multi-room, multi-age, multi-family math. Cots, rollaways, connecting rooms, child-age bands, ADA — in one pass.

05 · Trust

Trust agent

Reads every review, photo, and partner response to score whether a property actually delivers on what it promises.

06 · Pricing

Pricing agent

Rescores inventory and bundles constantly. Keeps unit economics honest. Replaces category managers.

Unit economics

The number that should scare every incumbent:

91%
of trips close without a human touching them.
Measured against the full booking funnel: search → match → brief → confirm → arrival.
Avg booking
€1,850
Take rate
22.5%
Revenue / trip
€420
Gross margin
74%
CAC
€38
Payback
1.8 mo
How we charge

You pay when the trip is delivered.
€0 on failures.

No commission on lookup. No charge for a search that goes nowhere. The aggregator charges to be in front of you; we charge to have kept our promise.

Event
What we charge
Why
Trip completed
22.5%
We kept every promise in the brief.
Hotel failed to deliver
€0 + refund
Our margin sits on top of our promise.
Browsed, didn't book
€0
Looking is free. Always.
The three cost centres we rebuilt

Three things we do very differently — and that's why we run at 56 people.

01

Our loyalty program is the Memory agent.

Every trip makes the next one shorter. No points, no tiers, no Genius-style levels — the loyalty IS the memory. The longer you book with Juno, the more it knows your family — preferences, allergies, accessibility, the hotel you loved in Puglia — and that compounds into better trips.

Headcount comparison
0
Juno loyalty team
~200
Booking.com loyalty
02

Our contact operation is a 6-person Partner Ops pod + Recovery.

95% smaller than a traditional 24/7 centre. Agents handle rebookings, changes, compensation, partner escalations. The pod handles the judgment calls when something truly unusual breaks. No call queues. No script.

Annual spend
<€80k
vs tens of millions at scale
03

Our growth motion is agentic discovery.

We don't run a 50-person SEO/affiliate team because we don't compete for Google rank. We compete to be the API that Claude, Gemini, and ChatGPT call when a family asks for a trip. Structured, agent-readable inventory. No pay-to-rank layer.

CAC
€38
Payback in 1.8 months
One trip · end-to-end · no human in the loop

Sarah types at 10:47pm.
Booking confirmed at 10:49pm.

10:47pm · T-0
Sarah types: "my parents' 40th, nine of us, September, Italy, three rooms"
10:47pm · T+2s
Memory agent pulls the family profile.
Margaret's walk-in shower · Leo's dairy allergy · the Puglia hotel Sarah loved in 2023.
10:47pm · T+6s
Matching + Occupancy score 2,300 eligible properties in 4 seconds.
6 fit all nine people with all constraints.
10:47pm · T+8s
Trust agent filters 2 properties out.
Regression detected on recent "walk-in shower actually works" reviews.
10:48pm
Sarah sees 4 properties with reasons. Picks Masseria Coccaro.
10:48pm
Pricing confirms bundle. Partner brief drafts the hotel brief.
10:49pm
Booking confirmed. No human in the loop.
T-14 days
Partner brief lands with GM.
Walk-in shower confirmed · cot confirmed · dairy-free breakfast noted.
T-4 days
Hotel flags: original walk-in-shower room under repair.
Partner brief agent auto-swaps to structurally identical room. Notifies Sarah.
Trip day
Family arrives. Room is right. Sarah goes to dinner.
Throughout
Partner Ops pod copied on every exception.
Touches this trip zero times.