Headout raises $12 million in Series B fundraise1 min read . Updated: 09 Sep 2021, 03:47 PM IST
- ‘With this round and our profitability milestone, all our focus is on expansion and long-term investments to aid travel recovery’
Travel experiences marketplace, Headout, on Thursday said it has raised $12 million as a part of its Series B financing round led by Glade Brook Capital.
The round also saw participation from existing investors including Version One Ventures, Nexus Venture Partners, FJ Labs, 500 Startups, Haystack and Ludlow Ventures and new investors Espresso Capital and Practical VC.
The seven-year old startup is an online marketplace which provides curated experiences to travelers across the world. Unlike the existing aggregators, Headout claims to leverage technology and its operational know-how to actively standardise, upgrade and curate experiences provided by its partners across the world.
"The world is an incredibly boring place without travel and real-life experiences. Covid has only made us more relentless on our mission to inspire people to experience the world out there. With this round and our profitability milestone, all our focus is on expansion and long-term investments to aid travel recovery," said Varun Khona, co-founder and chief executive of Headout.
Headout has witnessed strong growth since January 2021 as it doubles down its efforts to cater to domestic and local travel demand, which used to be a minority segment pre-pandemic. The company also claims that it turned profitable at the earnings before interest, taxes, depreciation, and amortization (Ebitda) level in July this year.
"Our team has been impressed by Headout’s ability to drive strong revenue growth with profitable unit economics. Given the low online penetration for travel experiences, we see a significant opportunity for Headout to digitize the sector, particularly into the post-covid recovery period. Glade Brook is pleased to partner with the Headout team to further accelerate growth and geographic expansion," said Linda Guo, partner at Glade Brook Capital.
At present, Headout serves 30 destinations around the world, and has over 9 million individuals leveraging various experiences offered on the platform.
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