Funding round
Hopper Growth
Reported as "Growth Equity"
Hopper, which works in travel booking and distribution in Montreal, raised $96M in a Growth round announced on 7 Nov 2022, led by Capital One, at a $5.00B post-money valuation. 1 firm took part, 1 of them already investors. It is Hopper's sixth venture round on record; the one before was a Series G in Aug 2021.
$96M
Amount raised
$5.00B
Post-money valuation
1
Investors
1 lead
1.4x
Step-up from the Series G
$3.50B in Aug 2021
1.9%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Hopper at $5.00B after the new money, 1.4 times the $3.50B of its Series G (Aug 2021). The $96M bought investors about 1.9% of the company. It came 15 months after Hopper's Series G. It is 16% of the $615M Hopper has raised in the venture rounds on record. No later venture round is on record for Hopper.
Hopper's funding rounds
Hopper has 6 venture rounds on record. This one is highlighted.
- Series B 15 Aug 2012, led by OMERS Ventures $12M
- Series C 15 Dec 2016, led by La Caisse $62M
- Series D 3 Oct 2018, led by OMERS Ventures $100M
- Series F 24 Mar 2021, led by Capital One $170M
- Series G 17 Aug 2021, led by GPI Capital $175M$3.50B post-money
- Growth this round 7 Nov 2022, led by Capital One $96M$5.00B post-money
Investors
Who put money in
Capital One led the round. Capital One had backed Hopper before.
Lead investor
- Capital One existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Growth rounds in Travel Agencies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Travelport Travel Agencies | 31 Mar 2023 | $200M | not disclosed | Siris Capital Group and Elliott Management |
| Travel Agencies | 25 Apr 2023 | $7.5M | not disclosed | not named |
| Travel Agencies | 28 May 2023 | undisclosed | not disclosed | Scottish Equity Partners |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Hopper raise in its Growth round?
Hopper raised $96M in its Growth round, announced in Nov 2022.
Who led Hopper's Growth round?
Capital One led it.
What was Hopper's valuation at the Growth round?
$5.00B post-money.