October 03, 2018
Hopper Announces US $100 Million in Series D Funding Led by OMERS Ventures
Travel booking app will accelerate international expansion and further AI efforts
MONTREAL, QC and CAMBRIDGE, MA - October 3, 2018 - Hopper, the world’s fastest growing travel booking app, today announced US $100 million (CA ~$128 million) in Series D financing led by OMERS Ventures. Existing investors Caisse de dépôt et placement du Québec (CDPQ), Accomplice, Brightspark Ventures, Investissement Québec, BDC Capital IT Venture Fund, and new investor Citi Ventures participated in the round, bringing the company’s total funding to date to US $184 million (CA ~$235 million). The new funding will be used to expand Hopper’s market presence globally and continue its AI development.
“Travel is a $1.3 trillion industry. Online travel is $662 billion, with mobile comprising $264 billion of that,” said Frederic Lalonde, CEO and co-founder of Hopper. “As the world continues to shift from web to mobile – and to apps in particular – an estimated 70-90% of time spent online is actually taking place on mobile. Of that, 92% of all mobile time is spent in apps — and not mobile web. Hopper is in a unique position to become the go-to way to book travel.”
Web Surfing Being Replaced By Mobile Apps – 92% Of All Time Spent In Mobile Is In Apps
Another mobilityView prediction comes true – The death of surfing mobile & PC.
We believe that apps will be the primary way in which brands/companies interact with their retail customers.
The vast majority of data usage is app usage and not mobile browsing; and we believe that in the next 18 months 98% of all data consumption will be app based.
Hopper Announces US $100 Million in Series D Funding Led by OMERS VenturesBack