New Enterprise Associates has led a $27 million Series A funding round in Berlin-based travel planning startup GoEuro. Existing backers Battery Ventures, Hasso Plattner Ventures andLakestar also participated in the round. The company, which allows travelers to schedule trips on planes, trains and buses, had previously raised a $4 million seed-stage round from Battery and Hasso Plattner. As part of the Series A funding, NEA General Partner Forest Baskett has joined the board.
GoEuro closes Series A funding of $27 million led by New Enterprise Associates
All existing institutional investors participate in the round
27 August 2014: Multi-mode travel platform GoEuro is pleased to announce today that it has successfully raised $27 million in Series A funding, led by New Enterprise Associates (NEA), one of world’s largest venture capital firms.
As a further sign of confidence in GoEuro’s current progress and future prospects, all three existing investors — Battery Ventures, Hasso Plattner Ventures and Lakestar —have increased their funding in the company.
GoEuro is addressing the complex challenges of the multi-billion dollar European travel market by using technology to build a new platform that normalizes massive amounts of rail, bus and air data, resulting in a solution that presents users with all travel options in a clear and concise manner. Travellers can plan routes from towns and villages, and then compare and combine air, rail and bus travel in a single search, thus eliminating the need to visit multiple websites to plan their entire journey.
The company currently operates in seven countries, Germany, UK, Spain, Italy, Belgium, Netherlands and Luxembourg, providing coverage to 20,510 railway stations, 10,011 bus stations and 207 airports. The new funding will enable GoEuro to significantly increase its rate of growth – with further key European markets to be opened later this year – and reach its goal of being the largest multi-mode travel platform across the Continent.