Klook raises $100M in fresh equity
MANILA, Philippines — Travel platform Klook secured a $100-million funding from a global investment firm as the popular website—now known for partnering with hospitality companies to offer experiential packages—works to meet changing preferences of new-generation travelers.
Klook said in a statement on Wednesday that Vitruvian Partners’ capital infusion would help unlock “a wealth of expertise and global perspective” for the company’s next growth phase.
Ethan Lin, Klook CEO and cofounder, cited the Asia-Pacific region’s reputation as one of the biggest tourist destinations across the globe in seeking to expand the company’s services.
“With the region set to remain the heartbeat of global tourism, Klook’s strong brand, extensive supply network and deep local expertise position us to deliver even greater value to the next generation of experience-driven travelers across the world,” Lin said. “We are excited to welcome Vitruvian on this journey.”
READ: Klook @10: Eco-friendly travel pushed
Vitruvian supports “travel innovators” and scaling global businesses, with around $20 billion in active funds, Klooks said. It has offices in London, Stockholm, Munich, Madrid, Singapore, Shanghai and San Francisco, among others.
Founded in Hong Kong in 2014, Klook is known for helping travelers book hotels and flights through its website. It recently offered more experiential packages, including concert bundles and tours.
According to Klook, it has contributed $7.2 billion to the Asia-Pacific gross domestic product and likewise supported at least 219,000 jobs in the region.
Klook offers over 500,000 experiences in 2,700 destinations worldwide, it said in its website.
Last month, the company partnered with the Philippines’ Department of Tourism to promote the Philippine Experience Program, a government-led initiative to showcase the country’s culture and heritage.
Apart from its existing partnerships with government agencies and hospitality-focused firms, Klook is likewise backed by several investors, including the Sy family, the wealthiest clan in the Philippines.
The SM Group, through regional investment arm SM Investments SG Holdings, was the first local company to invest in Klook in December 2023.
Back then, the Hong Kong-based firm completed a fresh $210-million funding round.
SM Investments, the largest company in the Philippines in terms of market capitalization, joined other international investors—Bessemer Venture Partners, BPEA EQT, Atinum Investment and Golden Vision Capital, among others—in supporting Klook. INQ
