Skyscanner raises £128m from Vitruvian, Artemis et al.

Besides private equity firms Vitruvian Partners and Artemis, the list of investors that participated in this round of fundraising included Baillie Gifford, the Malaysian government's strategic investment fund (Khazanah Nasional Berhadnd), and Yahoo! Japan. As these investors join existing stakeholders Scottish Equity Partners and Sequoia Capital, their individual contributions remain undisclosed.

CEO Gareth Williams stated that the fresh funds will primarily be used to finance Skyscanner's growth in the online travel market.

Company
After being founded in 2003, Skyscanner turned its first profit in 2009 before obtaining capital from Sequoia Capital in 2013 – valuing the firm at £500m. The company's revenues then increased year-on-year by 42% in 2014 to £93m. It is understood that the most recent fundraising values the Scottish tech firm at more than £1bn.

The privately owned company currently employs 700 staff and has 10 global offices in Barcelona, Beijing, Budapest, Edinburgh, Glasgow, London, Miami, Shenzhen, Singapore and Sofia.

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• Vitruvian Partners
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