Online experiences marketplace Headout has raised $12 million in its Series B round led 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 more cities and for hiring an additional 150 employees across the globe. The company is also actively pursuing acqui-hires of travel, entertainment and AR centric startups to help shape its future direction, said Headout in a press statement.
Founded by Varun Khona and Vikram Jit Singh, seven-year-old Headout leverages technology and its operational know-how to actively standardise, upgrade and curate experiences provided by its partners across the world.
According to the company, it has helped around nine million people from 190 countries with its customised travel plans across more than 30 cities.
With travel rebound strengthening, Headout has delivered 800% growth since Jan 2021 by doubling 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.
