Evaneos, the online marketplace for tailor-made travel experiences, picks up $80M Series D
Evaneos, the online marketplace for tailor-made travel experiences, has picked up $80 million in Series D funding. Leading the round is Partech, and Level Equity, with participation from Quadrille Capital, and existing backers XAnge, Serena Capital, and Bpifrance.
The injection of cash is to be used to international development, including increasing headcount from the current 180 employees. It brings total funding to around $108 million since being founded in 2009.
Competing primarily with traditional tour operators, Evaneos offers a marketplace for tailored travel experiences that claims to cut out the middle-person -– that is, the tour operators and major travel agencies -– by connecting travellers directly with a community of local travel agents. Through the site you can browse a range of holiday ideas, then contact a local agent living in the destination country to design a tailor-made itinerary.
The draw for consumers is more personalized travel experiences, while local agencies benefit from an additional source of direct revenue, retaining more income for the local economy. Evaneos counts 1,300 local partners based in 160 destinations, and says it aims to add another 500 in 2009.
The product is available in 9 European countries, and Evaneos name checks Germany, France, Italy, Spain & the U.K. as particularly competitive but where it is seeing most business. To date, more than 300,000 travellers have used Evaneos to create and book a trip.
Meanwhile, personalised travel remains a hot sector for investors. In June, TourRadar, the Vienna, Austria-headquartered online travel agency (OTA) that also targets the multi-day touring market, raised $50 million in Series C funding led by the Silicon Valley growth VC firm TCV.