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Secret Escapes, the London-based international online marketplace for affordable luxury travel deals, has today announced that it has closed a $111m (£83m) Series D investment and debt facility. This significant equity round was led by Singapore-headquartered Temasek, with participation from existing investors Idinvest Partners, and a debt facility from Silicon Valley Bank.
With the additional funding, Secret Escapes has now raised almost $153m (£104m) in capital since its 2011 launch. In July 2015, the company raised $60m (£37m) in a round led by Google Ventures and Octopus Ventures.
Since the brand’s arrival onto the global travel scene in 2011, Secret Escapes has launched in 21 territories in Europe, Asia and the US, and has grown its global membership base from four million in January 2014 to its current level of over 47 million worldwide.
Secret Escapes, which offers its members exclusive deals on hand-picked hotels and holidays at up to 70 per cent off, has enjoyed compound annual revenue growth of 185 per cent, having recently acquired Slevomat, Central and Eastern Europe’s leading travel deals and experiences company.
Building on its profitable core markets, this Series D funding round will be used for driving growth and international expansion, including acquisitions.
Alex Saint, Chief Executive of Secret Escapes, said: “We’ve reached a particularly exciting point in our brand’s development where we’re operating in 21 territories, having sold over seven million room nights. 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.
The support and investment from Temasek, Idinvest Partners and SVB will help us accelerate our mission through worldwide acquisitions.”
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