GetYourGuide raises $75 million, looks to AI and personalisation

GetYourGuide has raised $75 million in Series D which it says is the largest ever raised in the tours and activities segment.

The round is led by Battery Ventures, a new investor for the company, with exiting investors KKR, Spark Capital, Highland Europe, Sunstone Capital and Nokia Growth Partners also participating.

As part of the investment from Battery, general partner Itzik Parnafes joins the board of GetYourGuide.

According to a statement these latest funds will go towards international expansion and technology. As part of its technology development the company says it plans to “apply AI and machine learning” by way of offering up personalised recommendations.

The statement says the company, founded in 2010 [startup pitch here], recently “crossed the threshold of 10 million tickets booked, with nearly half of those booked in 2017 alone.”

Tours and activities is estimated to be worth $135 billion with expectations that it will reach more than $183 billion by 2020.

GetYourGuide CEO Johannes Reck says:

“We are experiencing explosive growth this year.

“It’s our goal to significantly disrupt the in-destination travel experience in the years ahead, and the financing we’ve raised from both new and existing investors represents a vote of confidence in our progress toward capturing the massive market opportunity before us.”

Almost two years ago, GetYourGuide raised $50 million in funding while at the same time details of a deal with Booking.com were revealed.

The tours and activities segment is getting a lot of attention from the investment community with Asia-based Klook announcing $60 million in funding a week ago.

Consolidation is also happening in the space with Ctrip announcing its acquisition of Trip.com (formerly Gogobot) this week.

Airlines slow to see attractions as ancillary products

Image by Stephen Leonardi via Unsplash

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About the Writer :: Linda Fox

Linda worked at tnooz from September 2011 to June 2018 in roles including senior reporter, deputy editor and managing editor.

 

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  1. Marco

    On the other hand, suppliers commissions have gone from 15% and 25%. The service provided by account managers is every time worse, focusing on their numbers rather than on good numbers for both parts.
    Resume is that slowly small suppliers will be leaving their platform due to high commissions and conditions, focusing on trying to generate sales on their own websites and adwords campaigns.

     
  2. ZELMAN ZEEV LEDERMAN

    GetYourGuide claims that customers are its primary focus which may be true but in its pursuit of corporate growth it is -in my view -squeezing its small scale suppliers by its latest changes to partner contracts . These changes include all on-demand tours being changed to free-sale. This means the supplier will not have the possibility to accept or decline bookings anymore as they will all automatically be confirmed.This again , in and of itself , is not necessarily a bad thing but is very aggressive to the small suppliers when coupled with the further change to their cancellation policy that now forces suppliers to pay GetYourGuide all commissions on tours cancelled by the supplier , except by force majeure. Smaller independent private guide companies who used to fly on the wings of the Corporate Travel Dragons are now falling off with these draconian steps .

     
 
 

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