Skyscanner, a travel search engine, announced today that it had received a significant investment from venture capital firm Sequoia Capital. Sequoia Capital partner Sir Michael Moritz would also be joing Skyscanner's board of directors as a result of the investment. Skyscanner did not disclose the true value of the investment, but said it would fall along the USD800 million valuation.
Skyscanner added, "(This is) one of the largest investments in any company Sequoia has made to date." However, the travel search engine startup insisted that Scottish Equity Partners would remain Skyscanner's largest investor.
Prior to the investment by Sequoia, Skyscanner raised a total of USD5.2 million to date and would be seeing a turnover of USD30 million last year.
Skyscanner's latest exit and appointment of Moritz would help accelerate the company's growth expansion. The startup said it had grown over 100% in the past four years. It had also opened a Miami office that would be used as the headquarters for North American and Latin American operations.
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