New investment values Skyscanner at $1.6bn

Gareth Williams

Edinburgh-based travel search firm Skyscanner has announced five new partners who will invest £128 million ($192 million) between them for an undisclosed share in the company.

Fund managers Artemis and Baillie Gifford, Malayasian state investor Khazanah Nasional Berhad, private equity firm Vitruvian Partners and Yahoo Japan now join Scottish Equity Partners (SEP) and Sequoia as investors in Skyscanner.

Bankers said the new investment values the whole of Skyscanner at around $1.6 billion, making it a so-called “unicorn” company — a private technology firm valued at more than $1 billion.

Skyscanner chief executive Gareth Williams (pictured) said: “Skyscanner has enjoyed high double-digit growth rates for some years now, and has been profitable since 2009.

“This success is thanks to our 1,200 direct partner relationships, the trust of the 50 million travellers who use us every month, our technology and the dedication of our teams to deliver the best experience for travellers possible.

“This financing round and our recent new hires allow us to build fantastic further tools for travellers.

“I’d like to thank SEP and Sequoia for their belief in us and also welcome our new investors to the team. We have so much more to do together – it’s an exciting time.”

Skyscanner was advised by Goldman Sachs International and Numis Securities Ltd., who acted jointly as financial advisers, brokers and bookrunners in connection with the investment.

Skyscanner was founded in 2003 and employs more than 700 staff. It has offices in Barcelona, Beijing, Budapest, Edinburgh, Glasgow, London, Miami, Shenzhen, Singapore and Sofia.

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.