Travel activities platform Klook raises $225M led by SoftBanks Vision Fund

We recently noted that SoftBanks Vision Fund has stepped up its deal-making in Asia this year, and today it added a new company to its roster: travel services platform Klook.
Hong Kong-based Klook announced today that it has raised a $225 million round led by the Vision Fund with participation from existing investors. The deal which is described as a Series D plus comes just eight months after Klook announced its $200 million Series D at a valuation of over $1 billion. The company didnt confirm what its new valuation is, but co-founder and president Eric Gnock Fah (second from right in the photo above) did confirm to TechCrunch that it has increased.
Klook was founded in 2014 and it serves as an activities platform for users who travel overseas. That covers areas like visits to adventure parks, scuba diving, more localized tours or basics such as train travel, food or airport transfers, all of which can be found, paid for and taken using Klooks platform. Today, Klook claims to host 100,000 activities across over 270 destinations. Its team has grown to over 1,000 staff and it has 20 offices, including sites in Europe and the U.S. as well as, of course, on its home turf in Asia Pacific.
Its rivals include KKday, a Taiwan-based company backed by the likes of Alibaba and Line, and FunNow. Outside of Asia, theres Peek, Headout, Voyagin, GetYourGuide, Culture Trip and even Airbnbs experiences feature. Still, Klook has raised considerably more than any of these competitors.
This new injection means that Klook has now raised $425 million to date. Its investors include Sequoia China, Matrix Partners, TCV, OurCrowd, Goldman Sachs, Boyu Capital, Technology Crossover Ventures (TCV) among others.
Gnock Fah said that Klook has maintained a dialogue with SoftBank for a while. The company only recently raised its Series D so didnt need the additional capital, but he said that it was moved by SoftBanks bigger vision and its potential role in the SoftBank ecosystem.
That, in particular, means opportunities to work with other Vision Fund-backed startups in Asia. Gnock Fah specifically name-checked ride-hailing firm Grab in Southeast Asia and hospitality company OYO, as well as e-commerce companies Coupang in Korea and Tokopedia in Southeast Asia.
We dont do point to point or on demand so its synergistic on both ends, he said of potential tie-ins with Grab which is already working with OYO while he cited Klooks ongoing work with Alibaba, which has relationships with Tokopedia and Lazada in Southeast Asia.
Travel activities platform Klook raises $225M led by SoftBanks Vision Fund
(From left to right) David Liu, Chief Product Officer; Bernie Xiong, Chief Technology Officer and Co-Founder; Anita Ngai, Chief Revenue Officer; Eric Gnock Fah, Chief Operating Officer and Co-Founder; Ethan Lin, Chief Executive Officer and Co-Founder (PRNewsfoto/Klook)
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