Phoot Credit: Klook
Klook, a Hong Kong-based tour and activity company, has raised $225 million in funding led by SoftBank’s Vision Fund — which is the largest financing in a global tour and activity sector company so far.With this round, Klook has raised $425 million total for the Series D. Including this round, Klook has raised a total of $521.5 million. Existing investors Sequoia China, Matrix Partners, TCV, and OurCrowd also participated in this round.
Over the past four years, Klook has become the most searched travel activity and services platform. And this past year, Klook expanded its global footprint to Australia, Europe, and the U.S. in order to provide unique consumer experiences. Klook also entered a number of major global partnerships with Shangri-La Hotels and Resorts and Rail Europe.
“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,” said Klook CEO and co-founder Ethan Lin.
With this funding round, Klook is going to scale its operations into new geographies and continue to expand in its existing Asian markets. Japan — where SoftBank Group is based — is considered one of Klook’s most important markets. And Klook is planning to deepen its investments ahead of the 2020 Summer Olympics in Tokyo and will expand into additional Japanese cities to better serve inbound and outbound visitors.
“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”, added Klook co-founder and COO Eric Gnock Fah.
Klook is continuing to see success in its mobile-first strategy. For example, trip bookings on mobile devices tripled and accounted for over 75% of total bookings last year. And the company is expecting to maintain strong momentum with triple-digit growth in bookings this year as well.
Klook’s services booking platform enables travelers to discover and book attractions through its popular app for iOS and Android. And travelers can book on-the-go and redeem services using QR codes or e-vouchers. On the platform, there are more than 100,000 offerings across 270 destinations.
“We believe Klook is a leader in taking a mobile-first approach to the travel activities and services industry,” explained SoftBank Investment Advisers partner Lydia Jett. “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.”
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