Klook, a global accommodation, transportation, and activity booking platform, announced on the 12th that it had attracted an investment of 100 million dollars (approximately 145.3 billion won). This investment was led by global investment firm Vitruvian Partners.
Klook has been recognized for its clear vision, outstanding business operations and market leadership, particularly for its ability to strengthen its influence across the Asia Pacific market and successfully target the rapidly growing young traveler market.
Klook plans to accelerate innovation in travel services through this investment. First, it plans to expand its AI partnership with Google Cloud to enhance customer experience, partner operations, and internal productivity, and lead digital transformation to shape the future of the travel industry.
In addition, we plan to cooperate with each tourism office in the Asia-Pacific region to support local communities in various ways, including digital transformation. In Korea, we have expanded partnerships with various regional tourism organizations, such as signing an MOU with the Korea Tourism Organization. In particular, we are actively promoting digitalization of products and sales promotions to revitalize tourism in small local cities. Recently, we signed an agreement with the Department of Tourism (DOT) of the Philippines to accelerate digital transformation of Philippine tourism and expand accessibility to local tourism elements.
Celebrating its 10th anniversary last year, Klook is redefining the way customers book and experience various activities at their destinations. Klook has faithfully fulfilled its role as a platform to facilitate millions of product reservations while also revitalizing local industries. In addition, Klook has contributed approximately USD 7.2 billion to the GDP of the Asia Pacific region and created over 219,000 jobs, becoming a key growth driver for the Asia Pacific tourism economy.
According to the Asia Pacific Visitor Forecast 2024-2026 report, the number of visitors in the Asia Pacific region is expected to increase from 619 million in 2024 to 762 million in 2026, surpassing the previous record set in 2019. Klook is securing a high market share as a trustworthy platform that provides rich travel products and services based on the changing characteristics of travelers who prefer ‘experiences’.
“Over the past decade, Klook has established itself as the go-to travel platform in Asia Pacific, reimagining the way customers discover and connect with travel destinations,” said Ethan Lin, Klook CEO and Co-founder. “With our strong brand, expansive product offering and local expertise, we will deliver greater value to the next generation of experience-oriented travelers. We are thrilled to have Vitruvian Partners join us in this journey.”
Sophie Bower-Straziota, Partner at Vitruvian Partners, said: “Klook is a leader in driving change in travel experiences in Asia Pacific and beyond, with its drive for innovation, dedication to customer experience and market expertise. Vitruvian’s investment and Klook’s deep expertise in the global travel market will further strengthen Klook’s operational capabilities, expand its services to new territories and accelerate its growth.”
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