Online experiences marketplace Headout has raised $12 million in its Series B round drove by Glade Brook Capital. The round also saw participation from existing investors Version One Ventures, Nexus Venture Partners, FJ Labs, 500 Startups, Haystack and Ludlow Ventures and new investors Espresso Capital and Practical VC.
The funds will be used for expanding the company operations to 300 additional cities and for recruiting an additional 150 employees across the globe. The company is also actively pursuing acqui-hires of travel, entertainment and AR driven startups to assist with shaping its future direction, said Headout in a press statement.
Established by Varun Khona and Vikram Jit Singh, seven-year-old Headout leverages innovation and its operational ability to actively standardize, upgrade and curate experiences given by its partners across the world.
According to the company, it has helped around 9,000,000 individuals from 190 countries with its customized travel plans across in excess of 30 cities.
With travel bounce back strengthening, Headout has delivered 800% development since Jan 2021 by multiplying down on domestic and local travel demand which used to be a minority segment pre-pandemic.
The company claims to have turned EBITDA profitable in July this year.
