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Hopper Raises $175M at $3.5B+ Valuation As Travel Surges and Its Fintech Tools Help Offset Variant Concerns

Travel tech company Hopper has raised a $175 million Series G, the company said today. That’s nearly the same amount it raised in a Series F round that closed earlier this year. These are indeed new f..

This latest round arrives as Hopper is seeing impressive growth as travel starts to surge on the recent downswings in cases in North America following large-scale COVID-19 vaccination campaigns.

Hopper says that its revenue is on track to surge 330% versus last year, which is hardly surprising, given that 2020 saw the depths of the pandemic and a widespread screeching halt to the bustling global travel industry. The more impressive stat is that Hopper’s revenue is already up 100% versus its last pre-pandemic quarter, indicating the tough choices and aggressive re-prioritization of its products and business it underwent as a result of the pandemic are working well.

Of course, there’s a looming spectre threatening the overall narrative of a travel industry bounce-back: Delta and other COVID-19 variants, which are currently driving another wave of resurgence of the disease in North America. I asked Hopper CEO and co-founder Fred Lalonde about Delta’s impact on Hopper’s business so far.

“Currently, we have not seen an incremental impact of the Delta variant on Hopper’s domestic bookings,” he said. “In recent weeks, we have seen higher domestic bookings and lower international bookings on Hopper, as travelers look to stay closer to home. Since Hopper’s customer base is predominantly younger, leisure travelers and the majority of our bookings have been domestic throughout the pandemic, our domestic bookings still remain stable.”

Regardless of the impact on the nature of bookings, though, Lalonde notes that Hopper’s line of fintech products (something the company increasingly sees as its key differentiation) are in increasing demand as elements of uncertainty like the impact of the Delta variant enter into customer travel planning considerations.

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