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October 04, 2016

GoEuro raises $70 million in a new funding round led by Silver Lake Kraftwerk and Kleiner Perkins Caufield & Byers

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BERLIN, October 4, 2016  – GoEuro, the travel platform for trains, buses and flights across Europe, has announced the closure of a new funding round totaling $70 million, led by Silver Lake Kraftwerk, a fund of Silver Lake, a global leader in technology investing, and Kleiner Perkins Caufield & Byers, a leading Silicon Valley venture capital firm.

The new investment follows a successful funding round in December 2015 of $45 million. It will enable GoEuro to continue to execute on its vision to make travel easy and solve the complicated logistical and technical challenges of the €150 billion market, by bringing a simple mobile booking experience to the traditional industry. The ground transportation network in Europe is very developed but, unlike the air industry, no one has ever unified or standardized it before. By building a seamless travel planning solution as a single and integrated source of information, GoEuro allows customers to book the fastest, cheapest and best travel options by train, bus and flight to any city, town or village in Europe. It also benefits transportation providers by filling seats and increasing utilization rates.

Naren Shaam, CEO and Founder of GoEuro: “Our objective is to connect every single location on the map with a click of a button. After three years of intensive work, we’ve managed to attract 10 million users a month, integrate more than 5 million routes across Europe, 12 countries, 500 partners and sell tickets to millions of customers from more than one hundred countries. This new investment from such experienced investors will allow us to scale into many new markets and go deeper into the ones we already have, as well as accelerate development of the world’s most comprehensive reservations platform for trains, buses and flights.”

The funds will fuel a significant expansion of GoEuro's coverage starting from its current 500 travel partners in 12 countries. The rapid growth of GoEuro so far is due to an experienced and diverse team of over 180 people from over 40 countries, which will continue to expand to help create the best travel tool for Europe.

FBryce Lee, Managing Director of Silver Lake Kraftwerk: “In just three years, GoEuro has built a truly differentiated technology platform that allows true multi-modal comparison of rail, coach and air across Europe. We believe GoEuro has a clear opportunity to be the leading travel platform in this nascent market that today is still predominantly offline. We are delighted to partner with GoEuro to help the company further accelerate growth.”

Mood Rowghani, General Partner, Kleiner Perkins Caufield & Byers: “GoEuro provides an essential service to travelers across Europe and has grown tremendously to become a part of consumers’ daily lives. Naren is an exceptional entrepreneur with a unique ability to marry big ambitions with strong business acumen. We are delighted to partner with him to achieve GoEuro's mission of becoming the world's largest travel booking service.”

In total, GoEuro has now raised more than $145 million including investments in previous funding rounds and participation in the new round from Atomico, Battery Ventures, Goldman Sachs Investment Partners, Lakestar, and NEA. GoEuro is now poised to join the small circle of European start-ups seen to have the potential to become multi-billion dollar companies.

For more information, visit:  http://www.goeuro.com/news/press-releases


About GoEuro
GoEuro is a travel platform that allows customers to search and book trains, buses and flights across Europe. Partnering with over 500 European transport operators, GoEuro is revolutionising the travel planning experience, constantly providing customers with more choice, transparent pricing, travel times and easier booking.  

GoEuro lets travellers search to and from any location, including towns and villages, showing the best possible transport combinations while eliminating the need to visit multiple websites to plan an entire trip. With GoEuro, travel planning is simple, flexible and personal.

The travel startup is headquartered in Berlin, with over 180 employees from more than 40 countries and announced last December the closure of a funding round totalling $45 million led by Goldman Sachs Investment Partners.

About Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build and accelerate growth at pioneering companies like Amazon, Google, Lending Club, Nest, Twitter, Uber, and Mandiant. KPCB offers entrepreneurs years of operating experience, puts them at the center of an influential network, and accelerates their companies from success to significance. For more information, visit www.kpcb.com and follow us @kpcb.

About Silver Lake Kraftwerk
Silver Lake Kraftwerk is part of Silver Lake, the global leader in technology investing with over $24 billion in combined assets under management and committed capital and a team of approximately 100 investment and value creation professionals located around the world. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. The fund targets companies globally that leverage technology and business model innovation across a number of sectors, such as transportation, logistics, manufacturing, oil and gas, power generation and transmission, energy efficiency, waste, water, and agriculture, among others. For more information about Silver Lake Kraftwerk and its entire portfolio, please visit www.silverlake.com.