The tours and experiences market is projected to be worth $183 billion this year, and today a startup that has made inroads into the space through bootstrapping is announcing its first outside investment.
ToursByLocals — which sources local guides in some 162 countries, then helps tourists search and book them for either individual or small group tours and experiences in the place they are visiting — is today announcing 33 million Canadian dollars (US$25 million) in funding, from a single investor, Tritium Partners, money that it plans to use to hire more talent, build out its proprietary booking, payment and review publishing technology and expand its business development team.
This is the first outside funding for the Vancouver, Canada -based startup, which for the past 10 years has bootstrapped its business, building it up to 1.45 million customers and some US$45 million in revenues. It has around 100 employees today.
The valuation of ToursByLocals — co-founded by Paul Melhus, Dave Vincent and Luciano Bullorsky — is not being disclosed, but for some context, it’s operating in a dynamic (and crowded) space that includes competitors like Airbnb …read more
Thank you Source: Startups