Klook, a Hong Kong-based startup providing an online platform to book in-destination services across the globe, has raised approximately US$60 million in Series C round of funding, co-led by existing investors Sequoia Capital China and Matrix Partners, along with Goldman Sachs.
The around also saw participation from various Asia-based family funds, whose names were not disclosed.
With this round, the total financing raised by Klook to date has touched US$100 million.
Klook will use the new financing to expand globally to capture the growing market opportunity for both Asian travellers going long-haul to North America, Europe, Australia and inbound visitors to Asia from these developed markets.
“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,” said Eric Gnock Fah, Co-founder and President of Klook. “One area we are pursuing is the application of machine learning to facilitate smarter search. By leveraging our large amount of data sets and millions of transactions, we look forward to enabling visual and vocal search to satisfy travellers’ spontaneity with more precise and curated options.”
Founded in Hong Kong in 2014, Klook is an in-destination services booking platform that gives travellers a way to book and enjoy over 30,000 popular attractions, local experiences and services around the world. The app enables travellers easy access to local transit, skip the lines at major theme parks, discover ancient cities on a guided tour, or skydive over beaches and mountains.
Klook’s network of over 3,000 direct partners include world-famous attractions, such as Disneyland and Universal Studios, to locally-recognised operators such as Hong Kong’s Ngong Ping 360, and Bangkok Blue Elephant Cooking School. Klook claims to have over 1 million verified user reviews.
With a team of over 400 across 13 offices, Klook’s services are available in seven languages, supporting over 30 currencies.
Today, Klook brings in over a million monthly bookings, serving users from over 50 nationalities with the majority coming from Asia, it claims. Some of its fastest-growing user markets include Greater China, South Korea, the Philippines, Thailand, and Indonesia where mobile contributes over 70 per cent of total bookings.
“As demonstrated by its remarkable growth, Klook is a leading player in the Asian in-destination travel space and has a proven track record in cross-region business development,” said Stephanie Hui, Head of Principal Investment Area at Goldman Sachs in Asia ex-Japan, “Our investment, together with the network and resources of Goldman Sachs, will help Klook further expand and provide services globally.”