The travel industry in Southeast Asia is continuing to grow, and so is the short-term rental industry worldwide.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
Five travel tech startups have announced fundraises this week totaling more than $144 million.
>>Gother (formerly TraveliGo), an online travel agency based in Thailand, has raised $25 million from Kasikorn Bank Group.
The news about the funding and rebrand was announced at the first K Travel Tech Summit and reported by Singapore-based Web In Travel.
While Gother currently only offers travel products within Thailand, the company plans to expand products internationally, first focusing on Korea, Japan, and Singapore.
Through the partnership with Kasikorn Bank Group, the company’s 20 million app users will have access to the products from Gother.
Gother also said it is partnering with TakeMeTour, an online marketplace for tours and activities in Thailand.
>>Kasa Living, a San Francisco-based company that manages rentals for owners of multifamily and boutique hospitality properties, has raised $70 million in series C funding. The round was led by Citi Ventures and FirstMark Capital, with support from New York Life Ventures, Fireside Investments, RET Ventures, Zigg Capital, and Ribbit Capital.
The company has now raised over $126 million, according to Crunchbase.
>>Samara, a San Francisco-based startup building tiny homes as short-term rentals, has raised $41 million in series A funding. The company is the brainchild of Airbnb co-founder Joe Gebbia.
The round was led by Thrive Capital, with participation from 8VC, General Catalyst, New Legacy, SV Angel. Airbnb co-founders Brian Chesky and Nathan Blecharczyk and Dell CEO Michael Dell also participated in this round.
>>Superhog, which helps short-term rental managers minimize business risk, has raised $6.8 million (£5.5 million) in series A funding. The round was led by 6 Degrees Capital, Hambro Perks, and Solano Partners.
London-based Superhog said it helps hosts and property managers minimize risks by handling tasks such as guest screening, ID verification, and securing security deposits and damage waivers.
The company said it has grown its client base to more than 800 property management companies globally over the past two years.
The funding will go toward hiring and expanding business in the U.S. and Australia.
>>OTA Sync, a property management system for hotels, has raised $1.4 million (€1.3 million) in seed funding.
The round was led by Presto Ventures, with support from Katapult accelerator, TS Ventures Fund, DSI Group of Business Angels, Startup Wise Guys, and California Expert Fund DOJO.
The Estonia-based startup said its platform includes a property management system, booking engine, channel manager, and guest app.
The company said it has 2,000 customers in 17 countries.
The funding will go toward strengthening the product and expanding into the European and Latin American markets.
|Gother||Unspecified||Kasikorn Bank Group||$25 million|
|Kasa Living||Series C||Citi Ventures and FirstMark Capital||$70 million|
|Samara||Series A||Thrive Capital||$41 million|
|Superhog||Series A||6 Degrees Capital, Hambro Perks, and Solano Partners||$6.8 million|
|OTA Sync||Seed||Presto Ventures||$1.4 million|
Skift Cheat Sheet
Seed capital is money used to start a business, often led by angel investors and friends or family.
Series A financing is typically drawn from venture capitalists. The round aims to help a startup’s founders make sure that their product is something that customers truly want to buy.
Series B financing is mainly about venture capitalist firms helping a company grow faster. These fundraising rounds can assist in recruiting skilled workers and developing cost-effective marketing.
Series C financing is ordinarily about helping a company expand, such as through acquisitions. In addition to VCs, hedge funds, investment banks, and private equity firms often participate.
Series D, E, and, beyond These mainly mature businesses and the funding round may help a company prepare to go public or be acquired. A variety of types of private investors might participate.
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Photo credit: Pictured: Bangkok, Thailand Than Pitak / Pixabay