Total amount raised
$197.2 Millions
Latest funding date
1/1/2016
Location
Skyscanner has successfully raised significant funding over multiple rounds, culminating in its acquisition by Ctrip for $1.4 billion. The platform offers comprehensive travel search services, including flights, hotels, and car rentals.
Keep reading to explore the intricacies of Skyscanner's fundraising journey and the investors backing this innovative platform.
What Is Skyscanner?
Skyscanner, founded in 2003 in Edinburgh, Scotland, is a travel search engine that allows users to compare flight fares, car rentals, and hotel prices from various providers. The company was established by Gareth Williams, Barry Smith, and Bonamy Grimes.
Skyscanner's platform scans top airlines and travel providers across the internet, enabling users to find and book the best travel deals directly with providers. The company has grown significantly since its inception and now employs between 1,001 and 5,000 people.
With a comprehensive range of services, including price alerts and the ability to search for the cheapest travel options, Skyscanner has become a go-to resource for travelers worldwide.
How Much Funding Has Skyscanner Raised?
- Series A
- Amount Raised: £2.5M (approximately $3.3M)
- Date: November 2007
- Lead Investors: Scottish Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Skyscanner's capabilities and enhance its technology.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: October 3, 2013
- Lead Investors: Sequoia Capital
- Valuation at Round: $800M
- Motivation Behind the Round: To provide capital for growth and buy out some existing investors.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: October 17, 2013
- Lead Investors: Future Fifty
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources from Future Fifty.
- Venture Round
- Amount Raised: $192M
- Date: January 11, 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: $1.6B
- Motivation Behind the Round: To provide liquidity to existing investors and support international expansion.
Total Amount Raised: $195.3M
Current Valuation: $1.6B
Key Investors
- Scottish Equity Partners
- Details: Scottish Equity Partners (SEP) is a leading UK-based venture capital firm that invests in high-growth technology companies. They have a strong track record of supporting innovative businesses across various sectors.
- Investment Focus Areas: Technology, healthcare, energy.
- Notable Investments: Skyscanner, MatchesFashion, Mister Spex.
- Sequoia Capital
- Details: Sequoia Capital is a renowned American venture capital firm that has funded many successful companies in Silicon Valley and beyond. They are known for their early investments in tech giants.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Apple, Google, Airbnb.
- Future Fifty
- Details: Future Fifty is a UK government-backed program that supports high-growth tech companies. It provides access to expertise and resources to help companies scale rapidly.
- Investment Focus Areas: Technology, digital services, innovation.
- Notable Investments: Skyscanner, Deliveroo, TransferWise.
What's Next for Skyscanner?
Skyscanner's future looks promising with significant opportunities for international expansion and technological enhancement. The recent $192 million funding round underscores the market's confidence in Skyscanner's potential to scale operations and capture a larger share of the travel search market.
As the company leverages this new capital, future fundraising opportunities may arise, especially if Skyscanner continues to demonstrate robust growth and innovation. However, challenges such as effectively utilizing the funds for expansion and navigating the competitive landscape of the travel industry remain. Balancing these elements will be crucial for Skyscanner's sustained success.
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