Klook raises US$200mil in Series D funding
By Digital News Asia August 14, 2018
- Gears up for next round of global expansion and innovation
- On track to hit US$1 billion in bookings in 2018
KLOOK, a full-service in-destination booking platform, announced it has closed US$200 million (RM816.24 million) in Series D funding, bringing its total financing to date to US$300 million (RM1.22 billion).
Investors in this round include Sequoia China, Matrix Partners, Goldman Sachs, Boyu Capital, TCV, an Asia-based sovereign wealth fund, OurCrowd, and some family offices.
Sequoia China, Matrix Partners and Goldman Sachs also led the Series C in October 2017.
The investment further strengthens Klook’s position as a global player in the travel sector, and accelerates its expansion in the US and Europe, including product growth and technology innovation.
Founded in 2014, Klook covers attractions, tours, and local experiences as well as local transport and railway services around the globe. It offers travellers more than 50,000 activities and services provided by over 5,000 industry partners in 200+ destinations worldwide.
Since closing its US$60 million Series C fund last year, the company has opened offices in London and Amsterdam, and now employs more than 600 people across 16 offices around the world.
Its growth is driven by the rise of independent travellers and an increasing consumer appreciation for travel experiences. The company is on track to achieve US$1 billion annual bookings in 2018.
Klook will continue to expand its global footprint, with plans to open an office in the US by the end of 2018. The company will also be adding more US and Europe-based curated activities and services onto the platform to fulfil an increasing demand from Asian travellers for diverse and unique in-destination experiences.
Simultaneously, Klook will look to bring more US and European travellers to Asia, supporting the company’s long-term vision of serving travellers worldwide to easily discover destinations that are both popular and unique.
Klook has been a pioneer in driving travel innovation, developing travel operator solutions such as the Merchant App and QR-code based e-voucher redemption.
Klook’s technology solutions have been recognised and adopted by its merchant partners including world-renowned attractions, mass railway transit and other offline service operators.
Klook will continue to collaborate with its merchant partners to further provide frictionless, real-time booking experiences for modern travellers.
“Our mission is to empower travelers to build their own unique journey,” said Ethan Lin, CEO and co-founder of Klook.
“This round of funding marks an important milestone for us. The funding and extensive experience from our new investors will let us to further solidify our merchant portfolio and provide travellers with even more activities and destinations to explore around the world.”