- Berlin, Germany-based booking platform company GetYourGuide announced it raised $484 million in Series E
- The Softbank Vision Fund led this round of funding
- Co-investors Temasek, Lakestar, Korelya Capital and Heartcore Capital (formerly Sunstone Capital) and original investor Swisscanto Invest joined this round
GetYourGuide, a Berlin, Germany-based booking platform company, announced it raised $484 million in Series E funding led by the SoftBank Vision Fund.
This round of funding was joined by co-investors Temasek, Lakestar, Korelya Capital and Heartcore Capital (formerly Sunstone Capital). And original investors like Swisscanto Invest by Zürcher Kantonalbank supported the company in this round as well.
In conjunction with this round, Ted Fike (Partner at SoftBank Investment Advisers) is joining GetYourGuide’s Board of Directors.
According to Phocuswright, the global market for tours and activities is expected to hit $183 billion in 2020 and it represents the fastest-growing major segment of the global tourism industry.
“Today’s consumers prioritize seeking and sharing experiences over material possessions, and we expect this trend to accelerate in the years ahead,” said GetYourGuide CEO and co-founder Johannes Reck. “We’ve spent the past decade building a market-leading company around our mission to give the whole world access to incredible travel experiences. In the SoftBank Vision Fund, we’ve found a partner that shares our bold mission and our long-term view of how this fundamental consumer shift will impact global travel. We’re incredibly excited about the journey ahead of us.”
GetYourGuide is planning to invest the Series E funding in broadening its global inventory of experiences. Plus it will deepen the capabilities of its platform to enhance the discovery and booking experience for users and expand and diversify its marketing channels in order to reach millions of new travelers around the world.
“Consumers, especially millennials, are spending an increasing portion of their disposable income on travel experiences,” added Fike. “We believe GetYourGuide is leading this seismic shift by consolidating the fragmented global supply base of tour operators and modernizing access for travelers globally. This combination creates powerful network effects for their business that is fueling their strong growth. We are excited to partner with their passionate and talented leadership team.”
This round of funding comes as GetYourGuide is growing at a rapid pace. GetYourGuide has now sold over 25 million tickets to tours and activities through its platform.
GetYourGuide users are using the service for skip-the-line tickets to attractions, walking tours, food and beverage tours, cooking and craft classes, and niche offerings you will not find anywhere else.
Ever since GetYourGuide launched in 2009, travelers from more than 170 countries have booked over 25 million tours, activities, and attraction tickets through GetYourGuide.
In the past year, GetYourGuide has been recognized by Fast Company as a “2018 Most Innovative Company” for expanding its mission that redefines the in-destination experience through its signature line of GetYourGuide Originals — which are exclusive branded products it built from the ground up in partnership with top tour operators. Over 40,000 tickets for GetYourGuide Originals have sold and achieved 30% above average reviews from customers since launching in August 2018.
GetYourGuide is anticipating continued expansion and innovation for Originals this year. And at least 25 new destinations and significant product enhancements are slated for rollout.
J.P. Morgan acted as placement agent for this funding round. And Latham & Watkins and Walder Wyss acted as advisors to GetYourGuide on this transaction.
