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Taiwan-based travel experiences platform KKday has secured $70 million in funding to power its ambitious expansion strategy. The funding round was led by Cool Japan Fund, Taiwan’s National Development Fund, and Darwin Ventures.
“We’re excited to leverage these resources to expand our footprint, invest in cutting-edge technology, and bring unparalleled travel experiences to a global audience,” said Ming Chen, founder and CEO of KKday.
Founded in 2014, KKday’s platform offers more than 350,000 unique experiences in over 550 cities and 92 countries.
In July 2022, KKday secured $95 million in Series C funding, which it used to expand its portfolio with brands like FineDay, targeting the luxury market, and Activity Japan, one of the country’s largest tour booking platforms.
Earlier, in 2020, KKday raised $75 million, bringing its total funding at the time to over $97 million.
How It Will Allocate Its Funds?
KKday plans to channel the new investment into three key areas:
Mergers and AcquisitionsA significant portion of the funding will fuel mergers and acquisitions activities across the Asia-Pacific region, consolidating KKday’s position as a leader in the travel experiences sector.
Talent and Regional PresenceThe company aims to attract top-tier talent in key markets, enabling deeper penetration in high-growth regions like Japan and Southeast Asia.
Artificial Intelligence and InnovationKKday also said it would invest heavily in AI research and product innovation to improve user experience and operational efficiency.
Riding the Wave of Travel Experiences
Spending on travel experiences has surged by one-third since 2019, surpassing the growth rate of consumer goods. A joint report by Skift and McKinsey values the travel experience market at $1 trillion, with trends indicating travelers prioritize activities over destinations.
A poll of travel industry decision-makers at the Skift Global Forum in New York revealed that almost two-thirds of executives believe that travelers consider the experiences they want to have first and then book their travel around those plans.
Big in Japan
KKday has 11 offices across Asia-Pacific, including Hong Kong, Korea, Japan, Singapore, Malaysia, Vietnam, Thailand, the Philippines, Mainland China, Taiwan, and Australia.
In 2022, KKday claimed to have doubled its market share in Taiwan, Hong Kong, Korea, and Japan.
The company is also doubling down on Japan, a market experiencing record tourist arrivals. By integrating with Japan’s largest accommodation booking platform Jalan, the platform now offers 10,000 accommodations in Japan through its app. A collaboration with Japanese restaurant review platform Tabelog allows KKday to offer a comprehensive dining guide for both domestic and international travelers.
In Southeast Asia, KKday has tailored its KKday Marketplace platform to empower small, local suppliers. Targeted at businesses with fewer than 10 employees and a capital of less than $10,000, the marketplace aims to bring in-depth tours to a broader audience.
KKday’s partnerships with platforms like Viator, GetYourGuide, Agoda, and Google Things to Do also highlight its expanding global footprint and product offerings.
Boosting Regional Presence
Through its reservations management software platform, Rezio, KKday looks to strengthen its regional presence by providing local experience providers with advanced tools for real-time inventory management and dynamic pricing.
This innovation improves efficiency and profitability for small to medium-sized tour operators, creating a supplier network that enables KKday to deliver more diverse and authentic experiences to travelers, the company said in a release.
Highlighting Rezio’s impact, KKday cited the successful implementation of a digital ticketing system at Japan’s famous Nikko Toshogu Shrine, which streamlined operations and improved visitor experiences.
Launched in March 2020, Rezio has since become a cornerstone of KKday’s strategy to empower local suppliers and improve the travel ecosystem.
