Idinvest, Temasek back $111m Secret Escapes series-D

Existing investor Idinvest also put more money into the company from its Growth Fund II, having acquired a minority stake in the business early last year.

The $111m figure includes a debt facility provided by Silicon Valley Bank. Temasek director Nezahat Gultekin and Idinvest investment director Alban Wyniecki have joined the board.

Previous funding
In April 2011, the business first received seed financing from VC Octopus Investments. This was followed by a series-A in October 2011 that saw Octopus deploy equity alongside fellow VC Atlas Ventures.

In October 2012, Secret Escapes secured a further £8m during a round led by new backer Index Ventures. At the time, the business stated the funds would be dedicated to expanding its travel offer and to bolster its existing operations both in the UK and abroad.

In August 2015, Secret Escapes held a $60m series-C led by Google's VC arm. The round, featuring previous backers Octopus, Atlas and Index, was used to finance the company's roll-out in the US and Asia, with plans for both organic growth and bolt-on acquisitions.

Company
Founded by Alex Saint, Tom Valentine and Troy Collins in February 2011, Secret Escapes operates a website and an app in which customers can browse through a selection of luxury holiday packages. The business uses partnerships with hospitality and tour operators to negotiate rates for its customers. It currently operates across Europe, Asia and the US and employs around 400 people.

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• Topics
• Expansion
• Consumer
• UK / Ireland
• IDInvest Partners (AGF Private Equity)
• United Kingdom
• Venture