Five New Partners Invest £128 Million in Skyscanner
Skyscanner, the global travel search engine, today announced five new partners who between them will invest £128 million ($192 million) in the company. This includes both primary and secondary proceeds and sees the incoming investors acquire an undisclosed share of Skyscanner.
The primary investment in Skyscanner will support the company’s strategy and accelerate its rapid growth in the £332 billion ($500 billion) online travel market.
CloudOrigin CEO and Founder, Richard Hall who led the team who provided technology and operational due diligence to Vitruvian Partners for this investment round, commented:
“Skyscanner is a fascinating company with a distinct culture we have watched evolve over many years, proving that a UK firm can build a global presence and technology capability to match the leading e-commerce brands. We are proud to have advised Vitruvian on another pioneering technology investment”.
In addition, it expands Skyscanner’s access to additional sources of expertise and different virtual and geographic marketplaces around the world. Artemis, Baillie Gifford, Khazanah, Vitruvian Partners and Yahoo! JAPAN now join SEP and Sequoia as the company’s investment partners:
- Artemis is a global fund manager that manages more than £22 billion ($33 billion) across a range of funds.
- Baillie Gifford is an independent investment manager based in Edinburgh, investing globally on behalf of its clients.
- Khazanah Nasional Berhad is the strategic investment fund of the Government of Malaysia and enjoys excellent access to markets across the Asia Pacific region.
- Vitruvian Partners is a leading European investor with a track record of backing fast-growing businesses with deep expertise in online marketplaces.
- Yahoo! JAPAN is already a venture partner in Skyscanner Japan. Its investment further strengthens this relationship.
Gareth Williams, Skyscanner CEO, said: “Skyscanner has enjoyed high double-digit growth rates for some years now, and has been profitable since 2009. This success is thanks to our 1,200 direct partner relationships, the trust of the 50 million travellers who use us every month, our technology and the dedication of our teams to deliver the best experience for travellers possible. This financing round and our recent new hires allow us to build fantastic further tools for travellers. I’d like to thank SEP and Sequoia for their belief in us and also welcome our new investors to the team. We have so much more to do together – it’s an exciting time.”
Skyscanner was advised throughout the investment process by Goldman Sachs International and Numis Securities Ltd., who acted jointly as financial advisers, brokers and bookrunners in connection with the investment.
- Skyscanner is a leading global travel search company providing free search of flights, hotels and car hire around the world.
- Founded in 2003 Skyscanner helps over 50 million people each month to find their travel options.
- Skyscanner is available in 30 languages.
- Skyscanner’s highly-rated free mobile apps have been downloaded over 40 million times.
- The privately-owned company employs over 700 staff and has ten global offices in Barcelona, Beijing, Budapest, Edinburgh, Glasgow, London, Miami, Shenzhen, Singapore and Sofia.
For further news see the Skyscanner website [Click here] and blog [Click here].