Secret Escapes raises $60m in Series C funding round

Luxury travel brand closes lucrative round led by Google Ventures and supported by Octopus Ventures along with several others

The London-based business burst onto the global travel scene in 2011 and has since sold nearly two million room nights, launched a mobile app in several languages and grown its membership from four million in January 2014 to more than 19 million today.

It currently operates in 13 territories – the most recent new markets including the Netherlands, Spain and Italy. The latest investment will be put towards moving into new areas in Asia and North America.

Several acquisitions, including Polish travel company Travelist, have also been part of the business’s high-growth model that has seen revenue growth of 260% year-on-year.

The Series C funding round, led by Google Ventures and with heavy involvement from Octopus Ventures, Index Ventures and Atlas Venture, is likely to lead to more acquisitions in the near future.

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Secret Escapes chief executive Alex Saint said the business has now “reached a particularly exciting point in our brand’s development”.

“The cash injection of $60 million will enable Secret Escapes to continue making great strides to replicate the success of our UK business, ultimately helping to bring us closer to our ambition of becoming the number one destination for consumers looking to book their holidays,” he continued.

“The continued support and investment from Octopus since the earliest stages of our company formation has helped us to build a rapidly growing global company based in London.”

Alliot Cole of Octopus Ventures added that there were a number of factors that led to the VC house’s initial involvement with the company.

“It was Secret Escapes’ strong commercial opportunity, the size of the potential global market, and the strengths of the founding team which initially attracted us to support the brand during the early stages of the business’ development,” he said.

“Since 2011 Secret Escapes has enjoyed a 260 per cent year-on-year revenue growth and we’re excited to see how this brand develops in the future.”

Further reading: BGF backs Simworx with £4.5m investment

Praseeda Nair

Praseeda Nair

Praseeda was Editor for from 2016 to 2018.

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Early Stage Funding