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Klook raise US$60 million to secure global future

Klook raise US$60 million to secure global future

Alastair Newport

- October 26, 2017

Klook announced yesterday that it has completed a near US$60 million Series C funding. This round of investment, representing the largest deal ever for an in-destination service booking platform, is a co-investment led by Sequoia (which also led the Series B funding), Goldman Sachs and existing investor Matrix Partners, along with participation from various Asia-based family funds.

Since previous funding earlier this year, the company has doubled its staff from 200 to well over 400 located in 13 offices across Asia. Building on this momentum, Klook will use the additional financing to expand globally to capture the growing market opportunity for both Asian travellers going long-haul to North America, Europe, Australia and inbound visitors to Asia from these developed markets.

“Klook’s mission is to empower every person to travel independently, with all in-destination needs taken care of, for the ultimate hassle-free experience and more time to enjoy the trip,” says Ethan Lin, co-founder of Klook (pictured above, middle) “This round of funding gives us additional resources to further strengthen our leading position in Asia while accelerating expansion into new markets and verticals.”

“As demonstrated by its remarkable growth, Klook is a leading player in the Asian in-destination travel space and has a proven track record in cross-region business development,” said Stephanie Hui, head of principal investment area at Goldman Sachs in Asia ex-Japan, “Our investment, together with the network and resources of Goldman Sachs, will help Klook further expand and provide services globally.”

“In addition to global expansion, we plan to use the funding to accelerate the development of travel technology, which is really the core of the company. We are extremely excited at the potential of AI technology in reshaping a traveller’s experience when researching and booking a trip,” says Eric Gnock Fah, co-founder and president of Klook (pictured above, right). “One area we are pursuing is the application of machine learning to facilitate smarter search. By leveraging our large amount of data sets and millions of transactions, we look forward to enabling visual and vocal search to satisfy travellers’ spontaneity with more precise and curated options.”

Soong Chuan Sheng, general manager for Southeast Asia, Klook: “With our foray into Singapore and the wider Southeast Asian region in the past year, it is clear that Singaporeans are both seasoned and sophisticated travellers. This comes through very distinctly in their choice of travel activities – from finding ways to maximise complex products such as the Japan Rail pass, to exploring more unique custom itineraries on the outskirts of Bangkok such as Khao Yai and Hua Hin. With this round of funding and backing, we hope to strengthen the breadth of our activities to continue matching and delivering on Singaporeans’ appetite for travel experiences not just within Asia but also in Europe and the US.

May we all strive to emulate her virtues and remember that true wealth lies in the depth of our character, the sincerity of our actions, and the impact we have on those around us.”

Stay riveted for our next gala event, The Brand Travel Daily Media Travel Excellence Awards that recognizes and celebrates the outstanding achievements of companies and individuals in the travel, airline, and hospitality industry. They are scheduled to take place in 11 October, 2024

For inquires, to attend or sponsor next awards, kindly email here: Gary@traveldailymedia.com

If you know of any female leaders or up and coming superstars in the Travel and Hospitality industry you would like to nominate, please visit our page and complete a nomination form!
The prestigious IWTA Awards 2024 Award Winners are listed below:

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Klook raise US$60 million to secure global future

Alastair Newport

- October 26, 2017

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May we all strive to emulate her virtues and remember that true wealth lies in the depth of our character, the sincerity of our actions, and the impact we have on those around us.”

Stay riveted for our next gala event, The Brand Travel Daily Media Travel Excellence Awards that recognizes and celebrates the outstanding achievements of companies and individuals in the travel, airline, and hospitality industry. They are scheduled to take place in 11 October, 2024

For inquires, to attend or sponsor next awards, kindly email here: Gary@traveldailymedia.com

If you know of any female leaders or up and coming superstars in the Travel and Hospitality industry you would like to nominate, please visit our page and complete a nomination form!
The prestigious IWTA Awards 2024 Award Winners are listed below:

content studio box

…there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you design and create an advertising campaign.

We can also organise a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

x Studio

Connect with your clients by working with our in-house brand studio, using our expertise and media reach to help you create and craft your message in video and podcast, native content and whitepapers, webinars and event formats