15 Nov 2016

Musement goes forward with $10 million investment win

Musement has shown there is still a bit of capital swilling about for consumer-facing platforms for tours and activities – landing a $10 million round this week.

The Series B investment was led by family fund Micheli Associati and includes paticipation from venture capital groups P101 and 360 Capital Partners.

The Milan, Italy-based “destination discovery” brand says it will use the funding to continue investment in technology and product, as well as opening offices in other countries.

Musement was initially launched in 2013 (TLabs here) and raised €5 million in a Series A round in March 2015.

Backers at that time again included Micheli Associati, P101 and 360.

To date, Musement has products available in 450 cities in 55 countries around the world.

The company also says it hopes to develop its B2B2C distribution partnerships as a result of the latest injection of capital.

Earlier this year it created what was claimed at the time to be the first Facebook chatbot widget for tours and activities intermediaries.

This followed the launch of a function to automatically notify consumers in-destination on their mobiles when they approach an attraction, offering them tickets or skip-the-line deals.

It also struck a deal in October to sell its Germany-based activities on the Regiondo consumer-facing platform.

The Musement funding comes a year to the day since rival tours and activities brand GetYourGuide raised $50 million in capital, the highest in the sector so far.

Earlier the same year, US-based Zozi captured $30 million in a Series C round.

Musement co-founder and CEO, Alessandro Petazzi, says:

“Our goal was also to make a seamless booking experience across all verticals, helping consumers to discover things that are relevant to them whether at home or travelling.

“Until now, this integrated experience has never been achieved and our new funding round will assist us in executing this vision even further.”