KKday secures Series C+ round for hiring, expanding footprint, and tech innovation

The submit KKday secures Series C+ round for hiring, expanding footprint, and tech innovation appeared first on TD (Travel Daily Media) Travel Daily.

KKday has introduced it has secured extra funding in a Series C+ round, bringing the whole Series C round raised to US$95 million. The round is led by main tech Asia non-public fairness agency TGVest Capital to speed up tech.

The injection will probably be used to develop KKday’s workforce globally, and deepen its home footprint, notably in markets the place there’s a concentrate on home journey (e.g. Japan, Korea, Taiwan, and many others.), and tech innovation to satisfy the growing calls for of on-line journey companies (‘OTAs’) and native exercise and expertise suppliers (native retailers).

“We remain steadfast in our value proposition on providing unique hyperlocal experiences to travellers who are becoming more digital. Hyperlocalization and digitization will be our north star for scaling and building our user and merchant base. Over the past year, we have laid the groundwork and seen our domestic travel business growing steadily in key markets like Taiwan, Japan, Hong Kong, Korea, and Southeast Asia. We plan to double down on our current initiatives including partnering with our merchants and OTA’s to digitize their businesses in anticipation of pent-up demand for tourism and travel,” mentioned Ming Chen, CEO and Founder of KKday.

KKday is rebounding swiftly as a result of development in its home journey enterprise, new enterprise verticals, and efficiently rolling out rezio (KKday’s all-in-one SaaS resolution to handle bookings and stock for retailers on a number of channels) to over 1,600 retailers worldwide – reaching 2.7 million travellers globally. To meet this demand, KKday additionally plans to double down and aggressively rent throughout areas and roles together with software program engineers, R&D, enterprise improvement and operations, and advertising and marketing.

In June 2022, KKday’s GMV surpassed pre-Covid ranges. It additionally lowered its consumer acquisition prices to one-third of its prices pre-pandemic. During Covid-19, KKday’s home journey enterprise has been the principle driver of development throughout key markets together with Japan, Hong Kong, Korea, Taiwan, and Southeast Asia. KKday additionally expects to see robust home enterprise development in Japan notably off the again of its acquisition of Activity Japan, one of many main excursions and exercise OTAs in Japan. Business momentum can be anticipated to select up in markets like Korea and Singapore the place worldwide journey is returning.

With an inflow of home and worldwide travellers anticipating to return, a rise of native exercise suppliers have adopted rezio to assist digitize and scale their companies, and get entry to handle their bookings on a number of OTAs. With the brand new funding, KKday additionally plans to scale and construct new rezio options to automate and streamline options for retailers. For instance, KKday has partnered with Nami Island, a preferred attraction in South Korea with tens of millions of annual guests, to combine its software program rezio with the attraction’s {hardware} (e.g. e-gate, kiosk, POS system). Similarly, Asahiyama Zoo, one of many main zoo points of interest in Japan, has simply signed a multi-year contract with KKday to implement rezio’s options. KKday targets to extend by 100% new retailers onto the rezio platform.

KKday’s rezio has additionally partnered with main OTAs similar to Viator to deepen its retailers’ channels and footprint globally. Its partnership with Viator permits rezio to combine its API to allow retailers to handle their merchandise on Viator and Tripadvisor on prime of its present gross sales channels. KKday additionally plans to relaunch its in-demand owned and operated signature excursions that present vacationers with curated high quality native experiences as borders reopen.

“Traveler demand is rebounding at a fast pace as borders reopen. Ming and his team’s relentless focus on innovation and providing long-term value to its ecosystem of travel operators, activity providers, and users has proven paramount in weathering the Covid-19 wave. With this funding round, KKday will be in a strong position to capture market share and value as travel continues to reopen and digital transformation continues to be a long-term trend,” mentioned Claire Lai, Managing Director of TGVest Capital.

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