Company also Introduces New Heavyweight Tech
Leadership Lineup and Unveils Product Redesign
Culture Trip, the fast-growing startup providing cultural and
travel inspiration to users looking to explore the world, today
announced $80M in funding. This large series B
investment further demonstrates that Silicon Valley-sized
startup deals are continuing in Europe.
Led by PPF Group, the round is being used to aggressively propel
the business forward across all areas, including an immediate
bolstering of its executive team with key hires joining from
leading tech companies, and a product redesign launching today.
Off the back of the raise, Culture Trip will also use the funds
to significantly expand its engineering and creative workforce
around the world to fuel innovation, drive further audience growth
and roll out various monetisation strategies.
“I started Culture Trip with the ambition of applying my
long-standing passion for global culture and creativity to building
a tech company that could innovate in this space,” said Dr. Kris
Naudts, Founder and CEO of Culture Trip. “With this game-changing
investment, Culture Trip is focused on improving the current user
experience and value proposition, with the aim of building a
leading, global consumer brand that will disrupt the media and
travel industries through its creative content and tech.”
Ladislav Chvatal, Chief Officer for Strategic Projects of PPF
Group, added, “Having watched Culture Trip’s tremendous growth over
the last few years, alongside the top talent and palpable passion
inside the business, we see huge potential for it to truly
revolutionise the media and travel industries. PPF Group is excited
to help accelerate Culture Trip’s expansion plans and eager to see
what lies ahead.”
With offices in New York and London, as well as an R&D team
in Tel Aviv, Culture Trip moves into this next phase of development
with an expanded leadership lineup from tech businesses, including
Facebook, Google and YouTube.
Joining as CMO, Mike Fox will oversee the company’s global
marketing division with a focus on audience growth and turning
users into a powerful global community connected through shared
interests. Previously, Fox was at Facebook and part of the early
team responsible for growing Facebook’s annual advertising
business. Recently appointed CRO, Dick Soule, will be tasked with
expanding and diversifying Culture Trip’s monetisation efforts
across multiple markets. Soule was the first head of global sales
at YouTube, playing a key role in developing and driving their
sponsorship and media programme. He also possesses AR and VR
experience from his more recent positions representing Samsung VR
and Jaunt VR.
These executive appointments will work alongside Nick Jakobi,
Chief Product Officer, who previously joined Culture Trip, having
worked at Facebook and Google, bringing with him significant
product and AI experience. Also grounded in tech, Culture Trip’s
Board of Directors includes Dr. Nelson Mattos, former Vice
President of Engineering for EMEA at Google, as well as Yariv Adan,
Product Lead on the Google Assistant.
“I’m thrilled to have such world-class tech talent on our
growing executive team and Board,” said Dr. Kris Naudts. "With
this investment and quality of leadership, Culture Trip is now
ready to enter a new phase of hyper-growth.”
The company, today, also launched a new brand aesthetic to its
product, (website, app and social channels), with a new logo and
colour palette. Plus, new smart tech features, including wish
lists, integrated Google maps and planning tools, are being rolled
out as the platform starts to offer a more seamless experience for
the global traveller.
This collective announcement comes on the heels of Culture
Trip’s recent reveal of plans to launch an online travel booking
division later this year, connecting boutique hotels, independent
hotels, hostels and experience providers with the company’s rapidly
rising millennial following.
For a look at the creative content produced by Culture Trip,
please visit here.
About Culture Trip
Culture Trip is a fast-growing startup inspiring and enabling
people to explore the world’s culture and creativity. Its in-house
creative teams in London and NY together with its global network of
300+ freelance contributors have produced approximately 75,000
articles, videos, photos, illustrations and animation, currently
featured on the company’s website, app and social channels. The
inspirational content spans most formats and verticals, with
location playing a role in every story. The company’s engineering
teams are based in Tel Aviv and London. Founded by former academic
psychiatrist Dr. Kris Naudts, Culture Trip has been dubbed one of
the UK’s fastest-growing companies by Forbes UK. Culture Trip
attracts more than 15 million monthly unique visitors to its
website each month and has a social media following exceeding 5
million. Its video content has generated more than 1 billion views
last year, its app has been downloaded nearly a million times and
thousands of people subscribe to its monthly newsletter. Explore
the world and visit www.culturetrip.com, or connect with us on
Linkedin, Facebook, Instagram, Pinterest.
PPF Group
PPF Group invests into multiple market segments such as banking
and financial services, telecommunications, biotechnology,
insurance, real estate, and agriculture. PPF’s reach spans from
Europe to Russia, the USA and across Asia. PPF Group owns assets of
almost EUR 35 billion (as at 30 June 2017). PPF Group employees
170,000 people globally.
More info: www.ppf.eu
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version on businesswire.com: https://www.businesswire.com/news/home/20180423006511/en/
Media:BrewAlexandra Ezraculturetrip@brewpr.comorCulture
TripTricia Lodgetricia.lodge@culturetrip.com