Business Insider: A startup that helps people find and book the best activities in the world has raised $50 million
By Sam Shead
November 13, 2015
A Berlin startup called GetYourGuide raised $50 million (£33 million) today for its online and mobile travel platform that helps travellers to discover and book travel activities worldwide.
The company said in a press release that the series C funding round was led by New York-based investment firm KKR, with money also coming from new investor Nokia Growth Partners, and existing investors Spark Capital, Highland Capital Partners, and Sunstone Capital. The latest round brings total investment in GetYourGuide to just shy of $100 million (£66 million).
The online travel startup, which employs more than 200 people, aims to provide a one-stop-shop for travellers to search, discover, book and digitally redeem travel experiences. The platform lists over 27,800 activities in more than 2,500 destinations. Activities include everything from a Segway tour of San Francisco, to fast-track tickets on the Eiffel Tower, to a river cruise in Shanghai.
Since launching in Berlin in 2009, the company has opened offices in Las Vegas and Zurich. The new funding will be used by GetYourGuide to expand into new markets and improve its product.
Johannes Reck, CEO and cofounder of GetYourGuide, claims that booking travel experiences offline is "fraught with challenges".
"We are raising new capital to enhance our capabilities globally and chose KKR as a differentiated and experienced partner that will help us accelerate our global expansion," he said in a press statement.
The CEO explains in more detail about his hopes for the company over on his blog.
GetYourGuide believes the global market for travel activities is $100 billion (£660 million).
London vs. Berlin
London, Berlin and a number of other cities are fighting it out to become Europe's leading technology hub, with London possibly taking the edge due to the amount of venture capital money available in the city.
Reck said: "Berlin’s startup scene is growing at an exhilarating pace. In the past years we’ve seen a lot of big consumer platforms emerge, such as Zalando, Delivery Hero, Soundcloud or GetYourGuide.
"The big advantage of the city is that internet companies are more or less the only businesses in town. The entire city breathes consumer tech. That is fundamentally different to London, which will remain primarily a financial center."