Battery Ventures was joined by all GetYourGuide’s existing venture partners, including KKR, Spark Capital, Highland Europe, Sunstone Capital and Nokia Growth Partners (NGP).
The funding comes at a time of unprecedented momentum for GetYourGuide. This summer more than 10 million tickets were booked through the platform and nearly half of these were booked in 2017 alone.
“We are experiencing explosive growth this year and have stepped up to become the largest online booking platform for travel activities,” said Johannes Reck (photo), CEO of GetYourGuide. “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.”
Whilst GetYourGuide strives to become a global leader in an industry that is estimated to be worth $135 billion with expectations that it will reach more than $183 billion by 2020, it will use the funds to improve its activity recommendation algorithm by investing heavily in artificial intelligence and machine learning. In addition, the startup intends to expand the teams in the technology and product department.
As part of Battery Ventures’ lead investment in the funding round, GetYourGuide’s Board of Directors has been strengthened with the addition of General Partner Itzik Parnafes. An Israeli-born entrepreneur and investor, Parnafes brings a decade of experience in advising technology-focused businesses across a diverse array of industries.
“The company has already made significant progress in carving out a large and high-profile niche in the European travel market,” said Parnafes. “I’m looking forward to working closely with the Board to support its efforts to capitalize on what I think is a very exciting segment of global tourism.”
GetYourGuide is the latest addition to Battery's portfolio of travel software, experience and marketplace companies, which it has built over the past decade and a half across the U.S. and Europe.
As the largest online booking platform for travel activities, GetYourGuide powers access to more than 31,000 tours, activities and attractions in upwards of 7,300 destinations around the world. From Skip-the-Line tickets to the Eiffel Tower to shark diving in Cape Town, GetYourGuide offers things to do for every traveller, both on its own site and in partnership with premier travel brands worldwide. Headquartered in Berlin, GetYourGuide employs more than 400 people across its offices in 11 countries.
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, Tel Aviv and London.