KKDay secures $95m in Series C to accelerate tech and hyper localisation
Journey encounters system in Asia, KKDay, has secured additional funding in a Sequence C+ round, bringing the total Collection C round raised to US$95 million. The spherical is led by key tech Asia personal equity organization TGVest Capital to accelerate tech.
The injection will be used to extend KKday’s team globally, and deepen its domestic footprint, specifically in markets the place there is a focus on domestic travel (Japan, Korea, Taiwan), and tech innovation to satisfy the increasing needs of on the internet vacation companies (OTAs) and regional activity and experience vendors (nearby retailers).
“We continue to be steadfast in our value proposition on providing one of a kind hyperlocal experiences to tourists who are getting to be far more digital. Hyper localisation and digitisation will be our north star for scaling and developing our consumer and service provider foundation. In excess of the earlier year, we have laid the groundwork and observed our domestic vacation business escalating steadily in essential marketplaces like Taiwan, Japan, Hong Kong, Korea, and Southeast Asia. We approach to double down on our recent initiatives which includes partnering with our retailers and OTA’s to digitise their organizations in anticipation of pent-up demand for tourism and travel,” explained Ming Chen, CEO and founder of KKday.
KKday is rebounding quickly owing to expansion in its domestic travel business, new business verticals, and productively rolling out rezio, its SaaS remedy to handle bookings and stock for merchants on several channels to above 1,600 merchants globally. KKday also designs to double down and aggressively employ throughout locations and roles including software program engineers, R&D, business development and functions, and marketing.
In June 2022, KKday’s GMV surpassed pre-Covid stages. It also lowered its consumer acquisition expenses to one particular-third of its costs pre-pandemic. All through Covid-19, KKday’s domestic vacation business has been the primary driver of development across essential markets including Japan, Hong Kong, Korea, Taiwan, and Southeast Asia. KKday also expects to see potent domestic business advancement in Japan particularly off the back again of its acquisition of Activity Japan, a single of the top tours and action OTAs in Japan. Business momentum is also envisioned to select up in markets like Korea and Singapore the place global vacation is returning.
With an inflow of domestic and intercontinental tourists anticipating to return, an improve of area exercise suppliers have adopted rezio to assistance digitize and scale their businesses, and get accessibility to handle their bookings on various OTAs. With the new funding, KKday also designs to scale and create new rezio attributes to automate and streamline solutions for retailers.
For instance, KKday has partnered with Nami Island, a popular attraction in South Korea, to combine its software rezio with the attraction’s hardware (e.g. e-gate, kiosk, POS system). Similarly, Asahiyama Zoo, one particular of the key zoo attractions in Japan, has signed a multi-calendar year deal with KKday to apply rezio’s answers. KKday targets to enhance by 100% new merchants on to the rezio platform.
KKday’s rezio has also partnered with main OTAs these types of as Viator to deepen its merchants’ channels and footprint globally. Its partnership with Viator will allow rezio to integrate its API to empower merchants to deal with their merchandise on Viator and Tripadvisor on best of its present income channels. KKday also plans to relaunch its in-need owned and operated signature excursions that offer vacationers with curated quality regional activities as borders reopen.
“Traveler desire is rebounding at a quick pace as borders reopen. Ming and his team’s relentless concentrate on innovation and giving extended-expression benefit to its ecosystem of travel operators, action vendors, and users has confirmed paramount in weathering the Covid-19 wave. With this funding round, KKday will be in a potent placement to seize current market share and benefit as vacation proceeds to reopen and electronic transformation proceeds to be a extended-term craze,” stated Claire Lai, Managing Director of TGVest Capital.