With its last funding $484 millions, GetYourGuide is now valued more than €1,6 billions.
Hop Switzerland !
The booking platform for travel experiences announced that it has raised $484 million in a Series E round led by SoftBank Vision Fund and joined by co-investors Temasek, Lakestar, Korelya Capital and Heartcore Capital.
Previous investors such as Swisscanto Invest by Zürcher Kantonalbank continue to support the company. The funding will put the company's valuation above the $1 billion mark.
The global market for tours and activities is expected to reach $183 billion in 2020,and represents the fastest-growing major segment of the global tourism industry. To capture the market opportunity, GetYourGuide plans to invest the $484 million of funding in broadening its global inventory of experiences, deepening the capabilities of its platform to enhance the discovery and booking experience for users, and expanding and diversifying its marketing channels.
The Series E financing round was led by SoftBank Vision Fund, and joined by co-investors Temasek, Lakestar, Korelya Capital and Heartcore Capital. Original investors such as Swisscanto Invest by Zürcher Kantonalbank continue to support GetYourGuide.
Ted Fike, Partner at SoftBank Investment Advisers comments: «Consumers, especially millennials, are spending an increasing portion of their disposable income on travel experiences. We believe GetYourguide is leading this seismic shift by consolidating the fragmented global supply base of tour operators and modernizing access for travelers globally.
This combination creates powerful network effects for their business that is fueling strong growth.»
The Series E round comes at a time of significant growth and evolution for the company.
In the year ahead GetYourGuide anticipates continued expansion and innovation, with at least 25 new destinations and significant product enhancements slated for rollout. «In the SoftBank Vision Fund, we’ve found a partner that shares our mission and our long-term view of how this fundamental consumer shift will impact global travel», says Johannes Reck (picture: second from the left), CEO and co-founder of GetYourGuide.
A Swiss-German unicorn
Since its founding in 2009, GetYourGuide has sold over 25 million tour and activity tickets through its platform. The ETH spin-off is still incorporated in Zurich and has more than 400 employees and offices in 14 countries around the world. The main office is in Berlin.
As Startupticker previously reported, this investment round will elevate GetYourGuide to unicorn status, with the company being valued over $1 billion.