Activities and services booking platform Klook has today announced it has raised USD 225 m in Series D+ funding. This increases the company’s total Series D funding round to USD 425m. The SoftBank Vision Fund led the round with participation from existing investors, including Sequoia China, Matrix Partners, TCV, and OurCrowd. This represents the largest ever financing in the global travel activities and services industry.
In four years, Klook has become the most searched travel activities and services company on Google. In the last year, the Hong Kong-based company expanded its global footprint into Australia, Europe and the United States to deliver new consumer experiences. Klook also entered into major global partnerships with Shangri-La Hotels and Resorts, the Asia-Pacific-based luxury hotel group; and Rail Europe, a distributor of European rail products that represents more than 50 railways throughout Europe.
With the additional funding, Klook will scale its operations into new geographies and continue to expand in its existing Asian markets. For example, Japan is one of Klook’s most important markets and is also the headquarters of SoftBank Group. The company plans to deepen its investments ahead of the 2020 Summer Olympics in Tokyo and will expand into additional Japanese cities to better serve both inbound and outbound visitors.
“The best of what a destination has to offer”
Ethan Lin, CEO and cofounder of Klook, said: “Our vision is to bring the world closer together by connecting the best of what a destination has to offer with travelers from all over the globe.
Eric Gnock Fah, COO and cofounder, added: “This latest investment is a true testament to the progress made by the Klook team in building the world’s Number 1 Super App for all in-destination needs.”
In 2018, trip bookings on mobile devices tripled and accounted for over 75% of total bookings. Coupled with an accelerated expansion plan to grow Klook’s global footprint and service offerings, the company is expected to maintain its momentum with triple-digit growth in bookings.
“A leader in taking a mobile-first approach”
“We believe Klook is a leader in taking a mobile-first approach to the travel activities and services industry,” said Lydia Jett, partner at SoftBank Investment Advisers. “The company has seen great success in scaling its business across different geographies and cultures, and we are excited to help them drive further innovation in the global travel industry.”