Unicorn #5: OurCrowd Portfolio Company Klook Raises $425 Million

OurCrowd portfolio company, Hong Kong-based Klook, has raised $425 million in funding in a Series D round led by Softbank Vision Fund. Klook is a travel activity and services booking platform. Klook said it raised $225 million in Series D+ funding increasing the company’s total Series D funding round to $425 million.The funding is said to represent the largest financing in the global travel activities and services industry. Founded in 2014, Klook has raised over $520 million investment to date.

While the valuation of Klook was not disclosed the company is now well into Unicorn status. OurCrowd now holds five Unicorns in their portfolio of investments.

OurCrowd Managing Partner Denes Ban said they are excited to continue to grow with Klook in the new era of global connectivity.

“As an innovative VC platform started in Israel, we share similar visions and goals with Klook. OurCrowd set out to disrupt the traditional models and we have our eyes set on the world stage. Klook is OurCrowd’s first, but definitely will not be the last Asian unicorn and we are proud to co-invest with the world’s top tier investors.”

With the additional funding, Klook will scale its operations into new markets and continue to expand in its existing Asian markets.

Klook has pursued a mobile-first strategy. In 2018, bookings on mobile devices tripled and accounted for over 75% of total bookings.

Klook is one of the most searched travel activities and services company on Google, according to the company. In the last year, the company expanded its global footprint into Australia, Europe, and the United States to deliver new consumer experiences. Klook also entered into global partnerships with Shangri-La Hotels and Resorts, Asia Pacific’s leading luxury hotel group; and Rail Europe, a leading distributor of European rail products that represents more than 50 railroads throughout Europe.

Ethan Lin, CEO and co-founder of Klook, says their vision is to bring the world closer together by connecting the best of what a destination has to offer with travelers from all over the globe.

“We believe Klook is a leader in taking a mobile-first approach to the travel activities and services industry,” said Lydia Jett, Partner at SoftBank Investment Advisers. “The company has seen great success in scaling its business across different geographies and cultures, and we are excited to help them drive further innovation in the global travel industry.”

Existing investors beyond OurCrowd included Sequoia China, Matrix Partners, and TCV.

 


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