Klook, a platform for travel and experiences based in Hong Kong, announced $100 million in funding led by Vitruvian Partners, a global growth investment firm.
As the company steps up its efforts to seize the rapidly expanding market of next-generation travelers and expand its reach throughout Asia Pacific, the most recent investment demonstrates ongoing faith in Klook’s vision, market leadership, and operational excellence, the company said in a statement.
Klook’s next stage of expansion and innovation will be propelled by the recently obtained funding.
The company intends to improve internal productivity, merchant operations, and customer experience through its expanded artificial intelligence (AI) partnership with Google Cloud.
In partnership with tourism boards throughout Asia-Pacific, Klook is also promoting community impact and future-proofing the travel industry through digital transformation.
This strategy is demonstrated by a recent agreement with the Philippine Department of Tourism (DOT), which expedites the digital transformation of the nation’s tourism industry and enhances access to genuine local experiences.
“Over the past decade, Klook has established itself as the go-to platform for travel experiences in Asia Pacific, reimagining how travelers discover and connect with destinations,
“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,” said Ethan Lin, Chief Executive Officer and Co-Founder of Klook.
Recent projections indicate that foreign visitor arrivals in the area will surpass previous highs in 2019 and increase from 619 million in 2024 to 762 million by 2026.
This comeback, along with changing traveler habits, such as a greater desire for experiences rather than tangible possessions, puts Klook in a strong position to gain market share as a reliable platform for services and experiences in the area.
Vitruvian Partners, renowned for supporting high-growth, industry-defining businesses, has invested in Klook, contributing a wealth of experience and a global viewpoint to the company’s next stage of development.
The collaboration with Vitruvian, which has a proven track record of assisting travel innovators and growing international companies, supports Klook’s goal to broaden its customer base and establish itself as a market leader.
“Klook’s track record of innovation, commitment to customer experience, and deep market expertise make it uniquely positioned to lead the transformation of travel experiences in Asia Pacific,
“We believe Vitruvian’s investment and its deep thematic expertise in the global travel experience market will help further drive Klook’s growth by strengthening its operational capabilities and expanding its reach,” said Sophie Bower-Straziota, Partner at Vitruvian Partners.
