Canada-based ticket and accommodation booking platform Hopper secured $170m on Wednesday in a series F round led by financial services firm Capital One.
Citi Ventures, a corporate venturing subsidiary of financial services group Citi, also took part in the round, as did Goldman Sachs Growth, the growth equity subsidiary of investment banking firm Goldman Sachs, in addition to iNovia Capital and WestCap Group.
Founded in 2007, Hopper has built an online marketplace that uses artificial intelligence, data and machine learning algorithms to predict future hotel and airfare prices.
The company has teamed up with Capital One as part of the deal and they plan to form a platform dubbed Capital One Travel, powered by Hopper, which is set to launch later this year. The tool will combine Capital One’s customer base and digital capabilities with Hopper’s technology.
Business Development of Canada (BDC), Caisse de Dépôt et Placement du Québec (CDPQ), Investissement Québec, iNovia Capital and Omers backed a $70m round for Hopper in May 2020 led by WestCap. It secured the capital at a $750m valuation and the round pushed its total funding to $265m.
Citi Ventures had already participated in Hopper’s $100m series D round in 2018. It was led by Omers’ venture capital arm, Omers Ventures, and backed by fellow existing investors Accomplice, BDC subsidiary BDC Capital’s IT Venture Fund, Brightspark Ventures, CDPQ and Investissement Québec.
