Peek secures $80M Series C round led by ex-Airbnb exec (PhocusWire)

Summary

A PhocusWire news article by Jill Menze, dated November 23, 2021, reporting that the tours and activities platform Peek has raised an $80 million Series C round led by WestCap, a growth equity firm founded by Laurence Tosi, and Goldman Sachs Asset Management. Other investors named include 3L, Cathay Innovation, I2BF Global Ventures, Manta Ray and Apeiron, bringing Peek's total funding to more than $100 million. The article says Peek plans to triple its team in 2022, and quotes co-founder and CEO Ruzwana Bashir saying the company helped thousands of travel and local businesses survive the pandemic. It also states Peek's reported bookings and customer counts.

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Peek secures $80M Series C round led by ex-Airbnb exec

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By Jill Menze | November 23, 2021

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Tours and activities platform Peek has raised an $80 million Series C round led by WestCap, a growth equity firm founded by ex-Airbnb and Blackstone executive Laurence Tosi, and Goldman Sachs Asset Management.

3L, Cathay Innovation, I2BF Global Ventures, Manta Ray and Apeiron also participated in the round, bringing Peek’s total funding to more than $100 million. Previous investors in the San Francisco-based company include Jack Dorsey, Eric Schmidt and Paul English.

With the funds, Peek, which provides software for tour operators as well as offers a consumer-facing marketplace, will triple its team size in 2022 and expand its product offerings.

Despite the pandemic, Peek has racked up more than $2 billion in experiences bookings and has served more than 35 million customers.

“After helping thousands of travel and local businesses survive the pandemic, we’ve now been arming them with the digitization tools needed to scale and meet the massive demand in 2022,” says Ruzwana Bashir, Peek co-founder and CEO.

“Our vision to connect people to share memorable experiences is now more important than ever before.”

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Says Tosi, WestCap founder and managing partner: “We have been early adopters and investors in travel technology companies, and have been following Peek for years.

“Ruzwana Bashir is a dynamic leader and Peek’s unique approach has allowed them to serve millions of people. This is a transformative solution that will allow a wider audience of travelers and locals to have meaningful experiences, and for activity operators to grow their businesses.”

Peek’s latest funding joins other rounds snagged by major players in the tours and activities space including GetYourGuide, which topped off a €114 million financing round with an additional €80 million in February, and Klook, which raised $200 million in January of this year.

Recent investments have also been funneled into additional contenders, including Taiwan-based booking app FunNow, which raised $15 million earlier this month, and Rezdy, which in October raised $5.6 million for its tours and activities technology.

Investments

Tour Operator

Tours and Activities

Distribution

Reservation Systems

Travel Booking

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