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Headout raises Series A funding of $10M from existing investors

US and India based experiences marketplace Headout, has raised Series A funding of $10 million led by its existing investors Nexus Venture Partners and Version One Ventures.

Headout is a web and mobile travel and entertainment marketplace which connects travellers with locals who offer curated experiences. The company said that it will invest the fresh capital in its inventory and data systems to strengthen its last-minute experiences. After running a pilot last quarter, the firm will launch its flagship branded experiences platform across several markets this year.

Over the next 18 months, the service will expand from its current base of 20 cities to 100 cities across North America, Europe & Asia-Pacific, it said in a statement. Headout currently serves in 15 cities across 3 continents.

Also, Headout was available to users only in English but the company has now launched services in French, German & Spanish in select markets and is on course to have 12 languages by the end of 2019.

Founded in 2015 by Varun Khona, Vikram Jit Singh and Suren Sultania, Headout had raised seed funding of $1.8 million from a clutch of investors including Snapdeal co-founders Kunal Bahl and Rohit Bansal, WhatsApp’s Neeraj Arora, Facebook’s Rick Marini, Version One Ventures, Nexus Venture Partners, 500 Startups and Arena Ventures.

The company said that it has grown revenues 8x in the last 12 months, and turned profitable this (July) month.

Experience travel space

In June, Bangalore-based Treebo acquired Events High, a marketplace for events and activities, to enter into events and activities segment. Events High offers customers information on, and ability to book activities like treks and hikes, cooking classes, dance classes, concerts, heritage walks, nightlife, etc.

Airbnb launched Experiences last year, and is already clocking 10,000 users every month and is expecting profitable by next year. Other popular players in the space are PlacePass, FareHarbour, TripAdvisor’s Viator, GetYourGuide, Klook etc.

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