GetYourGuide raises $50M in biggest round in tours and activities to date
By Kevin May
November 13, 2015
GetYourGuide has secured what will be the largest ever single investment in the tours and activities sector: $50 million in a Series C round.
The round is being led by global investment firm KKR and includes participation from existing backers such as Spark Capital, Highland Capital Partners and Sunstone Capital.
Nokia Growth Partners is another new name on the roster for the Germany-based company.
GetYourGuide CEO Johannes Reck says the latest round will be used to “enhance our capabilities globally”, with KKR being seen as “a differentiated and experienced partner that will help us accelerate our global expansion”.
“In the past few years, we have started to turn the travel industry upside down and I cannot wait to see what’s next.
“With KKR on board, we have the confidence and financial means to aggressively pursue our long term vision and change a lot more travel experiences for the better.”
GetYourGuide has been on a bit of a fund-raising spree in the past three years.
It last raised capital just 16 months ago, with a $25 million in a Series B round from Spark Capital and Highland Capital.
That came seven months after a $4.5 million round, with investment from Kees Koolen and Fritz Demopoulos, ex-respective CEOs of Booking.com and Qunar.
The company’s Series A was in January 2013 when it captured $14 million.
The July 2014 deal came just seven days after GetYourGuide rival Viator was acquired byTripAdvisor for $200 million.
Until this week, Zozi held the honour of the biggest recipient of a single round in the tours and activities sector.
The US-based company attracted $30 million for its own Series C round, with Richard Branson of the Virgin Group one of the investors.
Member and head of the European media and digital investment team at KKR, Philipp Freise, says:
“We are excited to partner with the founder-led GetYourGuide team, which operates in the highly attractive global market for leisure activities.
“The company has a tremendous opportunity to take the clear leadership position in the fast growing large market for digital leisure travel.”
Reck admits that the first iteration of GetYourGuide in 2009 was a failure, but an all-or-nothing pivot a year later paid off with a move to promoting sight seeing tour companies.
“Within days we saw first bookings coming in. When adding more cities and more attractions & activities suppliers, we saw bookings grow at an exhilarating pace.
“It became clear that travellers love to book activities on the go and that our student version of the platform was just the wrong inventory.”
The company says it has 200 employees spread across offices in its headquarters in Berlin and London, Las Vegas, Dubai, Paris, Zurich and Barcelona.
It claims to have 27,800 bookable products in 2,500 destinations.
KKR has previously invested in Trainline, Scout24 Switzerland and Fotolia.
To read the original on Tnooz.com, go here: https://www.tnooz.com/article/getyourguide-raises-50m-in-biggest-round-in-tours-and-activities-to-date/