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Myrealtripis the latest travel tech company to twit a growing post - pandemic tourism diligence . The Seoul - base startup tell today it has raised $ 56.7 million ( 75.6 billion KRW ) in a Series F equity unit of ammunition of financial backing to accelerate its byplay and product innovation and wild leek up its hiring .
Global tourism has rebounded to pre - pandemic level in the third poop of 2023 , according toa late UN World Tourism Organizationreport . travelling tech company again prepare to hie up their business enlargement .
“ The travel manufacture was fragmented 12 years ago in South Korea , and there was no political platform that allow for travel information , ” chief operating officer of Myrealtrip Donggun Lee said in an sole interview with TechCrunch . Now the 12 - year - old company , which has 7.9 million users in South Korea , purpose to be a super app in the locomotion diligence , offer travelling engagement services , from flights , accommodation , activities , to local transportation .
The company partnered with around 2,000 traveling agency , hotel platforms , and airfare comparison service providers like Expedia , Agoda , and Viator to enable traveler to book services tours , activities , restaurants , local transportation , hotels and Airbnb - like accommodations globally .
Its valuation increased by 3x since its last equity financial backing , Series D , in 2020 , Lee severalize TechCrunch , without provide an exact trope . The company valuation was estimated at more than 200 billion KRW in 2020 , per old media outlets .
Lee also state that Myrealtrip had seen its receipts rush by three clip since 2022 . The outfit posted a gross ware loudness ( GMV ) of $ 746 million ( 1 trillion KRW ) in 2023 . It direct to repeat its GMV and get an EBITDA of $ 12 million this year , Lee note .
Like most locomotion company , the Korean startup faced challenges during the pandemic lockdown . The company says it could survive with the capital it had assure in 2020 and debt financing in 2022 in preparation for post - pandemic .
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“ Myrealtrip prioritise domesticated touristry and launch new features like a group head trip or business travel to survive for the last two challenging years , ” Lee said .
The company did not just enlarge its domestic tourism but also made several acquisitions and strategic investment . Myrealtrip acquiredStartripin 2022 to capture the number of foreign holidaymaker chit-chat South Korea post - pandemic . This travel platform lets users discover and book Korean - pop ( kB - pop ) themed blot , let in popular boy ring BTS music video cinematography locations . Lee said it plan to operate Startrip as a separate entity to improve its service with advance technology .
Myrealtrip also invest in IwaTrip , a Korean travel weapons platform that helps users find available spots to trip with kids , and O - Peace , a carbon monoxide - work and co - surviving space political platform designed for digital nomads workers .
Technology will be key to the foresightful - term success of draw its inward and outward-bound change of location substance abuser as well as foreign holidaymaker to take on its competitor like SoftBank - punt Klook , which conjure up $ 210 million last calendar month ; Yanolja ; Agoda ; and Airbnb .
Lee say the party , which practice AI chatbots for customer armed service , will invest more in technology , including AI capability , before its plotted initial public offering in 2026 .
pass investors BlueRun Ventures Korea and IMM Investment co - lead the round , which brings its amount lift to around $ 113 million ( 150 billion KRW ) in fairness and $ 39 million in debt since its origin in 2012 . newfangled investor Korelya Capital , cross out its first investment in South Korea , and Vanderbilt University ’s endowment store and previous backers , including Altos Ventures , Partech Partners , Smilegate and SV Investment , also bring together the Series F.
The company has 300 employees as of today .
