Klook, a Hong Kong-based startup, announced earlier today it has raised US$30 million in Series B funding in a round led by Sequoia Capital China, with the participation from existing investors including Matrix Partners and ex-Tencent executive-backed Welight Capital. The fund comes 16 months after its US$5 million series A funding round.
Neil Shen, Founding and Managing Partner of Sequoia Capital China, said in a press statement that Klook has serious "scale advantage" in the "highly fragmented in-destination sector".
Founded in Hong Kong in 2014, Klook is an online platform for travelers to explore and book a curated selection of activities at exclusive deals, targeting at both the English and Chinese-speaking independent travelers. The platform covers over 80 popular destinations and customizes itineraries, providing more than 10,000 attractions, tours, and activities. The service saw 5 million bookings on site in 2016. From a 30 man team in 2015, Klook has developed into a team with over 200 staffers based in 8 offices across Asia.
The US$30 million fund will be used to fuel the Klook's global expansion effort, as the company is confident that as travelers make more mid to long-haul journeys out of the region, there will be more demand in having access to all kinds of services on one consolidated platform.
Other than its plan for global expansion, the company is planning on expanding the spectrum of its in-destination offers. "After seeing great results in our newly launched local transfer & Wi-Fi vertical, we are enthusiastically diving deeper into the in-destination ecosystem to offer a wider array of services, from dining and wellness experiences to shopping deals, for travelers to enjoy wherever they go," said Eric Gnock Fah, COO& Co-Founder of Klook, in a press statement.
The startup is also working on developing the largest collection of travel videos in the industry, exploring new formats like 360 or VR videos, with the aims to create "an engaging discovery and booking experience" for its users.
“Having witnessed the rapid growth of the business, we are convinced that Klook has firmly established itself as the clear winner in this space and we’re pleased to continue our support,” said David Zhang, Founding Managing Partner at Matrix Partners, in the press statement.
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