UK-based online flight and travel booking platform Skyscanner raised £128m ($192m) in funding yesterday from investors including internet company Yahoo Japan.
The round also included fund manager Artemis, investment manager Baillie Gifford, private equity firm Vitruvian Partners and Khazanah Nasional Berhad, the strategic investment fund set up by the Malaysian government.
The round valued Skyscanner at $1.6bn, people familiar with the matter told the Financial Times.
Founded in 2003, Skyscanner operates an online platform that enables travellers to search for and book flights, accommodation and car hire around the world. It is available in 30 languages and has 10 offices spread across Europe, Asia and North America.
The company, which claims 50 million users each month, has been profitable since 2009. It did not disclose specifics regarding how it plans to spend the money, stating only that the funding would support its strategy and accelerate growth.
Skyscanner initially raised £2.5m in a 2007 round led by growth equity firm Scottish Equity Partners (SEP) before venture capital firm Sequoia Capital invested an undisclosed amount in 2013 at an $800m valuation.
Gareth Williams, Skyscanner’s CEO, said: “This financing round and our recent new hires allow us to build fantastic further tools for travellers. I’d like to thank SEP and Sequoia for their belief in us and also welcome our new investors to the team. We have so much more to do together – it’s an exciting time.”
Goldman Sachs International and Numis Securities served as financial advisers, brokers and bookrunners for Skyscanner in the fundraising process.