Hong Kong's Klook gets $60m Series C

OurCrowd and a number of Asian family funds also contributed. The investment is touted as the largest deal to date for a booking platform focused on in-destination services such as organized tours and travel activities.

The capital will be used to advance a global expansion plan and accelerate product development. The company currently operates out of 13 offices across Asia. Its mobile app is available in seven languages and supports more than 300 currencies.

“We are extremely excited at the potential of AI technology in reshaping a traveler's experience when researching and booking a trip," Eric Gnock Fah, co-founder and president at Klook, said in a statement. "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 travelers' spontaneity with more precise and curated options.”

Since its launch in 2014, Klook has built a portfolio of almost 30,000 travel activities and services covering more than 120 destinations worldwide. It currently makes more than a million bookings per month, mostly in Asia. Bookings make use of QR coded e-vouchers and instant confirmation, and are more than 70% transacted via mobile.

The company received a $30 million Series B earlier this year led by Sequoia, with additional backing from Matrix and Welight Capital, a firm founded by Xiaoguang Wu, a senior adviser at Tencent Holdings. Matrix led a $5 million Series A for the company in 2015 alongside China Growth Capital and Francis Leung, a senior advisor for Asia at CVC Capital Partners. This followed a $1.5 million seed round from Welight.

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• Topics
• Greater China
• Consumer
• Technology
• Expansion
• TMT
• Asia
• Hong Kong (China)
• Goldman Sachs
• Matrix Partners
• Sequoia Capital