Total amount raised
$119.9 Million
Latest funding date
11/01/2021
Location
Peek has raised $70 million to expand its AI vision for the experiences industry. The platform offers booking software and a marketplace for various experiences and activities.
Keep reading to explore the intricacies of Peek's fundraising journey and the investors backing this innovative platform.
What Is Peek?
Peek operates in the experiences and activities booking software and marketplace industry. The company provides a platform that makes it easier for people to find and book delightful things to do.
Peek has recently acquired ACME Ticketing and Connect&GO, and raised $70 million to expand their AI vision for the experiences industry. They boast 300,000 activities, 150 million happy customers, and 3 million verified reviews.
Their software helps businesses sell more experiences, process payments, market their business, manage reviews, and more, having powered over $7 billion in experiences.
How Much Funding Has Peek Raised?
- Seed Round
- Amount Raised: USD 1,400,000
- Date: January 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial product offerings.
- Seed Round
- Amount Raised: USD 500,000
- Date: April 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand initial market reach.
- Series A
- Amount Raised: USD 5,000,000
- Date: March 2014
- Lead Investors: Montage Ventures, Todd Kimmel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series A
- Amount Raised: USD 10,000,000
- Date: July 2016
- Lead Investors: Pete Flint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and improve product offerings.
- Series B
- Amount Raised: USD 23,000,000
- Date: June 2018
- Lead Investors: Cathay Innovation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series C
- Amount Raised: USD 80,000,000
- Date: November 2021
- Lead Investors: WestCap, Goldman Sachs Asset Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To triple team size, expand product offerings, and meet expected demand.
- Series D
- Amount Raised: USD 70,000,000
- Date: November 2025
- Lead Investors: Springcoast Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand AI capabilities and enhance the experiences platform.
Total Amount Raised: USD 189,900,000. Current Valuation: Not publicly disclosed.
Key Investors
- WestCap
- Details: WestCap is a growth equity firm founded by Laurence Tosi, a former CFO of Airbnb and Blackstone. The firm focuses on investing in technology-driven companies.
- Investment Focus Areas: Travel technology, financial services, real estate.
- Notable Investments: Airbnb, Sonder, Hopper.
- Goldman Sachs Asset Management
- Details: Goldman Sachs Asset Management is a division of Goldman Sachs that provides investment management services across a broad range of sectors.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Uber, Spotify, WeWork.
- Cathay Innovation
- Details: Cathay Innovation is a global venture capital firm that partners with startups to drive innovation and growth.
- Investment Focus Areas: Technology, healthcare, fintech.
- Notable Investments: Chime, Ledger, Glovo.
- Jack Dorsey
- Details: Jack Dorsey is the co-founder of Twitter and Square, known for his significant contributions to the tech industry.
- Investment Focus Areas: Technology, financial services, social media.
- Notable Investments: Twitter, Square.
- Eric Schmidt
- Details: Eric Schmidt is the former CEO of Google, recognized for his leadership in the tech industry.
- Investment Focus Areas: Technology, innovation, artificial intelligence.
- Notable Investments: Google.
What's Next for Peek?
Peek stands at the cusp of significant growth, driven by the expansion of its product offerings and the tripling of its team size. The company aims to leverage digitization tools to help travel and local businesses scale, meeting the anticipated massive demand in 2022. With over $2 billion in experience bookings and 35 million customers served, the opportunities are vast.
Future fundraising seems promising, given the recent $80 million Series C round led by prominent investors. This influx of capital positions Peek well for further rounds, potentially attracting more high-profile backers. However, challenges such as navigating the post-pandemic recovery and scaling operations to meet increased demand remain. Competition from other well-funded players in the tours and activities space also poses a significant hurdle.
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