Join gaming leaders online at GamesBeat Summit Next this upcoming November 9-10. Learn more about what comes next.
Secret Escapes, a members-only travel club for discounted luxury holidays, has closed a $111 million series D funding round led by Singapore-based investment firm Temasek, with participation from France’s Idinvest Partners.
Founded out of London in 2010 and launched a year later, Secret Escapes offers flash sales on four- and five-star hotels and breaks around the world. Though it is only available to members, the service is free to join, and it currently claims 47 million members globally, with 40 percent of those residing in the U.K.
Secret Escapes has now raised a little more than $150 million in outside funding since its inception, and this latest raise comes two years after a $60 million series C round, which was led by Google’s venture capital arm, GV, and Octopus Ventures. The fresh cash injection constitutes a mix of equity and debt, with a contribution also made by Silicon Valley Bank (SVB), and it will be used to drive the company’s global growth.
“The cash injection of $111 million will enable Secret Escapes to achieve its vision to inspire the world to escape and to become the number one travel deals website in the world,” said Secret Escapes CEO Alex Saint. “The support and investment from Temasek, Idinvest Partners, and SVB will help us accelerate our mission through worldwide acquisitions.”
The U.K. has become something of a hotbed for travel-related online services. Last year, TripAdvisor acquired London-based home-rental marketplace HouseTrip, after which China’s Ctrip.com snapped up Scotland’s travel search website Skyscanner for $1.74 billion. And earlier this year, Priceline doled out $550 million for travel search firm Momondo.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more