July 19, 2024

Korean Travel Tech Unicorn Myrealtrip Soars to New Heights with $56.7M Funding

Myrealtrip, Korea’s leading online travel platform, has ascended to meteoric heights since its founding in a university dorm room in 2012.

What began as a marketplace connecting travelers to tour guides has evolved into a comprehensive booking site offering flights, hotels, vacation rentals, tours and activities across 80 countries.

This week, Myrealtrip announced a $56.7 million Series F funding round led by Korelya Capital and Vanderbilt University’s endowment fund.

This brings Myrealtrip’s total funding to $113 million and values the company at over $200 billion won. The fresh capital will fuel global expansion and new product innovations as Myrealtrip rides a surging post-pandemic tourism boom.

Myrealtrip demonstrated resilience and adaptability amidst the pandemic’s challenges. By doubling down on domestic travel and new offerings like group trips, the company not only survived but thrived.

2022 revenue grew 3x and gross merchandise volume hit $746 million as Myrealtrip acquired domestic competitor Startrip and made strategic bets on IwaTrip and O-Peace.

The emotional core of Myrealtrip’s story lies in its resilience and ambition. Even in the face of the pandemic’s challenges, the company didn’t just survive; it thrived.

By prioritizing domestic tourism and launching new features like group and business travel, Myrealtrip adapted and overcame, a true underdog story in the tech world.

The company now boasts 7.9 million Korean users and partnerships with Booking.com, Expedia and 2,000 other travel suppliers.

With sights set on a 2026 IPO, Myrealtrip plans to invest heavily in technology to become a one-stop super app for global travel bookings.

From dorm room to $200 billion startup, Myrealtrip’s funding and growth sprint shows no signs of slowing down. As the tourism industry takes flight, this tech upstart looks to soar to even greater heights.

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