SINGAPORE (Aug 7): Travel services booking platform Klook has closed US$200 million ($273.1 million) in Series D funding, bringing the company’s total financing to date to US$300 million.
Among the investors for the latest round were Sequoia China, Matrix Partners and Goldman Sachs, all three of which led Klook’s Series C fundraising, which was held in Oct 2017 and raised US$60 million.
Other investors in the latest Series D round include Greater China-focused private investment firm Boyu Capital, US-based growth equity firm TCV, and Asia-based sovereign wealth fund OurCrowd, as well as some family offices.
In a Tuesday release, Klook says the latest round of investment further strengthens its platform’s position as a global player in the travel sector by accelerating its expansion in the US and Europe, including in the fields of product growth and technology innovation.
The firm intends to open an office in the US by end-2018, adding that it is on track to achieve US$1 billion in annual bookings this year.
Simultaneously, Klook is also looking to bring more US and European travelers to Asia to support its long-term vision serving travelers world-wide.
“This round of funding marks an important milestone for us. The funding and extensive experience from our new investors will let us further solidify our merchant portfolio and provide travelers with even more activities and destinations to explore around the world,” says Ethan Lin, CEO and co-founder of Klook.
