Tiqets secures US$23 million to accelerate its leading position in the Tours & Activities Industry
AMSTERDAM, Netherlands – Tiqets announced today that it has secured US$23 million in funding. This round of investment, which adds to the US$17 million the company raised for its series B in May 2017, was led by HPE Growth Capital – with participation from existing shareholders. The fresh capital allows Tiqets’ further technology development and to continue its massive growth.
Tiqets was launched in 2015 to solve two problems: a lack of options for consumers to seamlessly book admission tickets for museums and attractions, and insufficient access to mobile technology for venues to reach a global audience. Tiqets is now the global leader in this 60-billion-dollar market – which is part of the 160-billion-dollar tours and activities market, according to PhocusWright*.
– To date, Tiqets connects with over two thousand venues in 140 cities (bookable in 9 languages)
– Tiqets is the world’s highest rated company in the tours and activities space, with a score of 9.3 on Trustpilot
– In August 2018, close to 500,000 people booked with Tiqets
– Tiqets reached the milestone of 7 million tickets distributed in less than 4 years
“The company has built an outstanding platform. With unique real-time connectivity to top partners, we can offer customers great availability and choice at the most popular museums and attractions in the world”, says Simon Breakwell, co founder of Expedia and chairman of the board. “Tiqets’ growth is exceptional, we are incredibly product-driven and as a result, we have been able to scale at capital-efficiency levels that are unparalleled in the industry. I have enormous respect for how the team continuously strives for innovation, with great insight into the market needs”.
By connecting directly with venues, Tiqets guarantees instant, last-minute and mobile entrance. As the majority of all travelers book their tours and activities ‘in-destination’, the technology to allow real-time booking is crucial to customers. Companies like Veltra, from Japan, and Google also recognized Tiqets’ high quality in ticketing earlier this year – that resulted in valuable, and even exclusive, partnerships.
“Tiqets invested heavily in its technology in the last years, which paid off. We will continue to do this and keep improving our mobile booking experience, as over 70% of our customers book on mobile”, says Luuc Elzinga, CEO of Tiqets. “In addition to our own B2C platform, we support venues by developing the best solutions to improve their customer experience, provide them with technology that helps increase conversion onsite, and increase CLTV (Customer Lifetime Value)”.