Klook raises $100 million in funding led by Vitruvian Partners

SINGAPORE — Travel booking service company Klook said on Wednesday it had raised $100 million in funding led by European investment firm Vitruvian Partners.

Klook said in a statement that the newly secured capital will drive its next phase of growth and innovation, but it did not disclose its valuation after the fund raise.

It said it plans to enhance customer experience, merchant operations and internal productivity via its expanded artificial intelligence partnership with Google Cloud.

Klook, which was founded in 2014, provides various booking services to travelers across a range of locations globally and competes with other booking services providers such as TripAdvisor and Airbnb.

“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.

Founded in 2006, Vitruvian manages €20 billion ($20.72 billion) in assets globally and invests between €40 million to more than €600 million plus in companies typically valued between €75 million to more than €4 billion, according to its website. — Reuters