Total amount raised
$14.6 Millions
Latest funding date
Location
Safara has successfully raised $14 million in a recent funding round, attracting investments from notable firms such as Sequoia Capital, Defy.vc, Thayer Ventures, and H20. The company aims to revolutionize the hotel booking experience by offering cashback rewards to its users.
Keep reading to explore the intricacies of Safara's fundraising journey and the investors backing this innovative platform.
What Is Safara?
Founded in July 2021, Safara is a dynamic company based in Los Angeles, California. It operates in the hotel, marketplace, SaaS, and travel industries, aiming to empower independent hotels and transform the hotel booking experience.
With a team of 11-50 employees, Safara was founded by Cody Rose, Doug Schuessler, Joseph Kotkins, Karim Varela, and Maya Poulton. The company offers a unique cashback rewards program, allowing users to earn and use cashback on future trips, and is backed by prominent investors.
How Much Funding Has Safara Raised?
- Pre-Seed Round
- Amount Raised: $400,000
- Date: April 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Safara's platform and initial market entry.
- Pre-Seed Round
- Amount Raised: $800,000
- Date: April 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Pre-Seed Round
- Amount Raised: $2,100,000
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and prepare for market launch.
- Seed Round
- Amount Raised: $4,000,000
- Date: September 2022
- Lead Investors: Defy.vc, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
- Venture Round
- Amount Raised: $7,300,000
- Date: December 2024
- Lead Investors: Defy.vc, Sequoia Capital, Thayer Ventures, H20
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and innovation, and to integrate Skipper's technology.
Total Amount Raised: $14,600,000. Current Valuation: Not publicly disclosed.
Key Investors
- Defy.vc
- Details: Defy.vc is a venture capital firm that has invested in Safara. Brian Rothenberg, a partner at Defy.vc, is a significant supporter of Safara.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Sequoia Capital
- Details: Sequoia Capital is a prominent venture capital firm that has invested in Safara. Alfred Lin, a partner at Sequoia Capital, played a key role in supporting Safara.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
- Thayer Ventures
- Details: Thayer Ventures is a venture capital firm specializing in travel and transportation technology. They have invested in Safara to support its growth and innovation.
- Investment Focus Areas: Travel, transportation, technology.
- Notable Investments: Not publicly disclosed.
- H20
- Details: H20 is an investment firm that has participated in Safara's funding rounds. Specific details about H20 are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for Safara?
Safara's future looks promising with the recent acquisition of Skipper, which will enhance its platform by integrating advanced shopping and checkout experiences for hotels. This move, coupled with the additional funding, positions Safara to expand its marketplace app, which already boasts over 1 million bookable properties globally. The company is also poised to leverage partnerships with key boutique hotel groups, offering significant growth opportunities.
As Safara scales its operations, future fundraising opportunities are likely, especially given the positive relationships with investors like Sequoia and Defy.vc. The successful integration of Skipper's technology and the expansion of its platform could attract further investments, enabling Safara to continue its innovative trajectory.
However, challenges remain. Safara must navigate the complexities of integrating Skipper's technology while maintaining a seamless user experience. Additionally, competition from other hotel booking platforms and the need to sustain partnerships with boutique hotel groups will test the company's resilience. Despite these hurdles, Safara's strategic moves and industry trends suggest a bright future ahead.
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