What is FunNow?
Founded in 2015, FunNow operates as a dynamic instant booking platform, offering real-time availability and high-quality information for a wide array of leisure and entertainment services. This includes restaurants, bars, wellness centers, and hotels, positioning FunNow as a comprehensive solution for consumers seeking immediate access to recreational activities. The company's focus on real-time data and seamless booking experiences addresses a critical need in the fast-paced entertainment market, enabling users to discover and reserve services with ease.
How much funding has FunNow raised?
FunNow has raised a total of $20M across 2 funding rounds:
Series A
$5M
Series B
$15M
Series A (2018): $5M with participation from Alibaba Entrepreneurs Fund
Series B (2021): $15M led by Perfect Hexagon Commodity & Investment Bank and Ascendo Ventures
Key Investors in FunNow
Alibaba Entrepreneurs Fund
Alibaba Entrepreneurs Fund is an investment vehicle associated with Alibaba Group, typically focused on supporting startups and entrepreneurs within the Alibaba ecosystem and broader technology landscape. Their investments often align with Alibaba's strategic interests in e-commerce, cloud computing, and digital entertainment.
Ascendo Ventures
Ascendo Ventures is a venture capital firm based in Seoul, Korea, focused on partnering with rapidly growing and innovative Asian tech companies. The firm aims to be a long-term partner throughout the lifecycle of its portfolio companies, particularly in sectors related to climate and technology. Their investments span various industries, including renewable energy, AI, and leisure activities, with a commitment to supporting startups that incorporate ESG values. Ascendo Ventures primarily targets tech startups that are poised for significant growth and impact.
Perfect Hexagon Commodity & Investment Bank
Perfect Hexagon Commodity & Investment Bank is an entity involved in financial services, potentially offering investment banking, commodity trading, or broader investment solutions. Its participation in this funding round suggests a strategic interest in the technology and leisure sectors.
What's next for FunNow?
The substantial enterprise-level funding and recent strategic investment signal a pivotal phase for FunNow. This capital infusion is expected to fuel further platform development, enhance user acquisition strategies, and potentially drive geographic expansion. FunNow is likely to leverage this backing to solidify its market leadership, explore new service verticals, and optimize its operational efficiency. The company's trajectory suggests a strong focus on scaling its operations and deepening its market penetration, building upon its established presence in the instant booking sector.
See full FunNow company page
