|By PR Newswire||
|January 7, 2013 07:55 AM EST||
BERLIN and LAS VEGAS, Jan. 7, 2013 /PRNewswire/ -- GetYourGuide, the world's largest online platform for booking travel tours, attractions and activities, today announced the closing of its $14 million Series A round of funding from Spark Capital and Highland Capital Partners Europe. The investment will be used to further accelerate the company's rapid growth into new markets. GetYourGuide's new round marks one of the largest Series A investments ever raised by a European tech startup from major U.S. and European venture capital funds.
In only two and a half years, GetYourGuide has grown to become the world's largest platform for tours, attractions and activities. In this short time, the company has partnered with more than 16,900 activities in more than 1,680 destinations worldwide. In addition to its large booking inventory and booking website, www.getyourguide.com , GetYourGuide has distribution partnerships with more than 1,000 online travel agencies, travel operators and media companies, such as TripAdvisor and Kayak .
The global market size for travel activities is $100 billion annually, making the market twice as large as the car rental and cruise industries combined, according to a 2011 report from travel research firm PhocusWright.
Spark Capital General Partner Alex Finkelstein is joining the GetYourGuide board of directors as part of this financing. "The market potential for GetYourGuide is enormous. The founders have already proven that they are exceptional entrepreneurs who are able to create a game-changing company in the online travel market. With this new round of funding, GetYourGuide will be able to accelerate its already rapid growth worldwide," said Finkelstein.
Highland Capital Partners Europe's General Partner Fergal Mullen is also joining GetYourGuide's board. "GetYourGuide is already a major force in Europe. We believe the company has potential to make even greater waves in the tourism marketplace across the globe," said Mullen
"We're extremely pleased to have two of the most renowned venture firms investing in our company and supporting our business model and vision," said GetYourGuide CEO Johannes Reck. "Having brought such great investors on board will help us upscale our offering worldwide and fuel our consumer traction. We are well on our way to creating one of the most successful online travel companies."
GetYourGuide, the Internet's largest booking platform for travel activities, offers more than 16,900 attractions, tours and activities in upwards of 1,680 worldwide destinations. From sightseeing and historical tours to sport activities, museums, and event tickets, GetYourGuide provides an extensive assortment. The GetYourGuide website was launched in 2010 and holds offices in Zurich, Berlin and Las Vegas.
About Spark Capital
Founded in 2005, Spark Capital is a tight-knit group of partners managing approximately $1 billion across three funds. Spark invests across a number of key market segments including: advertising & monetization, commerce & services, cloud & infrastructure, social, mobile and content. Spark's portfolio includes companies such as Twitter, Tumblr, Foursquare, AdMeld, OMGPOP, ThePlatform and 5Min. The Spark team has previously backed notable companies such as Akamai Technologies, Qtera, Aether Systems and Novatel Wireless.
About Highland Capital Partners Europe:
Through a dedicated pan-European growth equity technology fund, Highland Capital Partners Europe embraces Highland Capital Partners' global mission of helping great people build great companies. Highland Capital Partners was founded in 1988 and has raised over $3 billion of committed capital. Highland has backed a number of companies that have been recognized as leaders within their industry categories, including: Altiga Networks, Avid Technology, CheckFree, ConorMedsystems, eToys, lululemonathletica, Lycos, MapQuest, Ocular Networks, Qihoo 360, Quattro Wireless, Quigo Technologies, Starent Networks, Sybase, Telica, Vertica Systems and VistaPrint. For more information, visit Highland's web site at www.hcp.com .
E-Mail: [email protected]
Telephone: +49 (0)30 544 459 42
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