China-headquartered online travel booking platform developer Klook received $200m in series E funding yesterday from investors including telecommunications and internet conglomerate Softbank’s Vision Fund 1.
Aspex Management, Sequoia Capital China, Matrix Partners China and Boyu Capital also contributed to the round, which increased the company’s funding to $725m since it was founded in 2014.
Klook runs an online travel and leisure booking platform available in 14 languages, offering customers the ability to organise travel as well as events, attractions and meals. It has introduced features such as contact tracing and interactive video content in recent months due to the ongoing covid-19 pandemic.
Vision Fund 1 also led the company’s last round, a $225m series D-plus round in April 2019 that also featured Sequoia Capital China, Matrix Partners, TCV and OurCrowd.
Sequoia China, Matrix Partners, TCV, OurCrowd, Goldman Sachs, Boyu Capital and an undisclosed sovereign wealth fund had provided $200m in series D funding for Klook the year before, valuing it at $1bn post-money.
Sequoia China, Matrix Partners and Goldman Sachs were existing investors, and Klook’s earlier backers included China Growth Capital, Welight Capital and angel investor Francis Leung.
Ethan Lin, Klook’s co-founder and chief executive, said: “Despite a challenging 2020, we have shown our mettle, turning challenges into growth opportunities with agility and constant innovation.
“We have observed over the past year that consumers have a pent-up desire to explore and enjoy themselves, despite international travel being paused. Instead, they are turning inwards – exploring new and unique experiences right in their backyard.
“This new capital further strengthens our leading position to take us from defence to offense, as domestic tourism becomes ubiquitous and international travel gradually returns.”
