Land transport platform Bookaway Group pocketed $35 million in a Series C funding round.
The investment was led by Red Dot Capital Partners with participation from Menorah, Tenere Capital and existing investors.
Israel-based Bookaway, which has now raised a total of $80 million, wants to make it easier for consumers to find and book ground transportation.
The company, whose brands include 12Go, GetByBus and Plataforma 10, says the funding will be used to “accelerate its missions to digitize the $157 billion ground transportation industry.”
Noam Toister, CEO of Bookaway Group, says: “Helping people easily book buses, trains and ferries is the final frontier in travel and price is part of this huge market. We plan to pursue our acquisition strategy to become the only player capable of offering a complete ground transportation inventory on a global scale. We complement acquisitions with an operating strategy that prioritizes organic growth in everything we do. »
He adds that the company is also looking to grow its B2B business by offering its ground transportation API to travel brands.
Bookaway says it will also earmark funding for “new financial models and operational tools that help operators recover from the pandemic faster.”
The company announced the acquisition of Argentina-based Plataforma 10 in March, saying the plan was to expand the brand into new markets, including Brazil and Peru.
The company says group sales in April were 50% above 2019 levels, while Asia-Pacific bookings are up 10% week-over-week since the start of 2022.
Bookaway announced $35 million in funding in July 2021.