The phenomenal growth of Asian tours and activities booking platform Klook has hit warp speed with the Hong Kong company raising a further US$60 million to fund global expansion and product innovation.
Currently generating more than one million bookings a month, the vast majority through its mobile app, Klook has raised almost US$100 million – including US$30 million from Sequoia Capital China just eight months ago – since it was founded in 2014 by Ethan Lin and Eric Gnock Fah.
Its staff numbers have doubled this year with Klook now employing 400 staff in 13 offices across Asia.
“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,” says Eric Gnock Fah.
“We are extremely excited at the potential of AI (artificial intelligence) technology in reshaping a traveller’s experience when researching and booking a trip,”
Among the latest investors are Goldman Sachs, Sequoia China (which tipped in USD30 million this March), OurCrowd, an Israeli venture capital platform, and Matrix Partners.
The company says its fastest growing user markets “include Greater China, South Korea, Philippines, Thailand and Indonesia, where mobile contributes over 70% of total bookings.
“Klook will use the additional financing to expand globally to capture the growing market opportunity for both Asian travelers going long-haul to North America, Europe, Australia and inbound visitors to Asia from these developed markets.”
Company spiel: “Klook is Asia’s largest in-destination services booking platform that gives travelers a simple and trusted way to conveniently book and enjoy over 30,000 popular attractions, local experiences and services around the world.
“Klook’s network of over 3,000 direct partners include world famous attractions such as Disneyland, Universal Studios, to locally recognized operators such as Hong Kong’s Ngong Ping 360, Bangkok Blue Elephant Cooking School, and more. Klook’s quality services have garnered over 1 million verified user reviews.”