Headout, a last-minute mobile marketplace has reportedly secured an amount of $10 million in a Series A funding round. The particular funding round was led by the existing investors Nexus Venture Partners and Version One Ventures.
After this round, the total funding amount of the company has reached $12 million so far. The company is planning to utilize these funds for the purpose of geographical and technical expansion.
The aim is to reach 100 cities across North America, Europe, and Asia Pacific by the next 18 months and enhance the technology and business teams, along with bringing in new verticals.
“Until this year, Headout was available to users only in English but the company has now launched services in French, German and Spanish in select markets and is on course to have all its experiences available in 12 languages by the end of 2019,” said Varun Khona, Founder of Headout.
Founded by Varun Khona, Headout is an on-demand mobile application with assists the travelers in booking the best local experiences for the next day at discounted prices. The company claims that its growth has improved eight times in the past 12 months and this month, it has shown profitability.
“From day one, our ambition has been to help people discover the lively beat of our cities and connect them with the cultural revolution we’re witnessing and the explosion of experiential events and fascinating activities around us,” added Khona. “Our focus is on understanding the city and going deep in a category rather than spreading ourselves thin across the globe.”
Headout also has plans of introducing branded experiences. These experiences will be similar to GetYourGuide’s new suite of branded products. Since 2018, Headout has been beta testing the branded experiences with the objective to “standardize and modernize this fragmented industry.”