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The second wave of Internet-era travel companies has captured the attention of venture capitalists. In the last five years, travel companies have raised more than billion in venture capital funding. That includes short-term rental startups, travel and tourism apps, marketplaces for “experiences” and other travel or hospitality tech platforms. Airbnb, a billion company and an anomaly in the category, has raised billion in that same time frame, according to PitchBook. In the last few months alone, aspiring Concur-competitor TripActions and travel activities platform Klook entered the “unicorn” club with large venture rounds that valued both of the businesses at more than billion. Meanwhile, luggage maker Away raised million at a 0 million valuation, TourRadar nabbed million and TravelPerk brought in million. Plus, smaller startups in the space like Rocketrip, Freebird, IfOnly, KKDay, Duffel and RedDoorz all closed modest funding rounds.
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