Glade Brook Capital led an extended series B fundraising round for Headout, an online experiences marketplace for travellers, which raised $30 million (Rs 224.3 crore). Nexus Venture Partners, FJ Labs, and 500 Startups were among the previous investors in the round.

In September of last year, the company raised $12 million in the first tranche of series B fundraising from the same group of investors.

“With travel rebound strengthening, Headout has delivered 800% growth since January 2021 by doubling down on domestic travel and local demand which used to be a minority segment pre-pandemic,” the company stated in a statement.

The money will be used to help the company reach $1 billion in annual sales by expanding to 500 cities in the next 24 months, create new domestic short-haul travel verticals, and develop the next generation of technological solutions, according to the company.

Headout uses technology to actively standardise, enhance, and select experiences given by its partners throughout the world as a managed and mobile-first marketplace of experiences.

In July 2021, the company turned a profit before interest, taxes, depreciation, and amortisation, or Ebitda. According to the company, 10 million people from more than 190 nations have participated in a Headout experience in more than 30 cities.

“The company is actively pursuing acquisitions in travel, entertainment and AR to build the future faster,” stated Headout. Sriharsha Majety (CEO, Swiggy), Ankit Sobit (CTO, Postman), and Ranjeet Pratap Singh (CEO, Pratilipi) were among the founders and operators who took part in the fundraising round.

“With all of the previous raise still in our bank and our consistently profitable economics, we have all the firepower we need to focus on aggressive expansion worldwide and longer-term investments to aid broader recovery of all things IRL (in real life) experiences,” said Varun Khona, CEO, Headout.

The commencement of a worldwide multi-year travel supercycle, according to Guo, will benefit the company.