Ground transportation platform Bookaway Group has bagged $35 million in a Series C funding round.
The investment was led by Red Dot Capital Partners with Menorah, Tenere Capital and existing investors also participating.
Israel-based Bookaway, which has now raised a total of $80 million, wants to make it easy for consumers to search and book ground transport.
The company, whose brands include 12Go, GetByBus and Plataforma 10, says the funding will go towards “accelerating its missions to digitalize the $157B ground transportation industry.”
Noam Toister, CEO of Bookaway Group, says, “Helping people to easily book buses, trains and ferries is travel’s final frontier and the prize is a slice of this enormous market. We expect to continue our acquisition strategy with a view to becoming the only player able to offer complete ground transport inventory globally. 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 through offering its API for ground transport to travel brands.
Bookaway says it will also put the funding towards “new financial models and operational tools that support operators in recovering from the pandemic more quickly.”
The company announced the acquisition of Argentina-based Plataforma 10 in March, saying the plan was to extend the brand into new markets including Brazil and Peru.
The company claims group sales in April sales were 50% above 2019 levels while bookings in Asia Pacific have increased by 10% week-on-week since the beginning of 2022.
Bookaway announced funding of $35 million in July 2021.