Travel Startups Shattered Funding Records in 2024. We Tracked Billions in Deals

2024 was a year of record-breaking startup fundraises for the travel industry. 

Skift tracked more than 200 startups that raised $13.1 billion. Even removing the outlier  — Waymo, which raised $5.5 billion — the $7.6 billion total was more than double the total from 2023 despite there being roughly the same number of deals overall. 

Lighthouse, a tech platform that helps hotels set rates and more, had the largest deal for a travel software company with a fundraise of $370 million.

Skift tracked the fundraises through a weekly roundup article, compiled from company announcements and exclusive reporting. 

While the total is a big number, the actual total is surely higher. That’s because some startups do not share when they raise money, and some do not disclose amounts raised. And we don’t track all global markets.  

Below is an overview of key raises, funding trends, and other important developments from 2024. (Is your travel startup raising money in 2025? Let us know.)

Tech to Modernize Airlines, Hotels, and Business Travel

The fundraise by Lighthouse was among several deals in 2024 that topped anything the travel industry has seen in years. It was also the only travel tech company in 2024 to become a unicorn for the first time, meaning it secured a valuation of over $1 billion. 

Before Lighthouse secured its deal, airline retail tech startup Flyr had the largest deal with $225 million in venture capital. Hostaway later raised $365 million, the largest deal for short-term property management tech that Skift has reported. 

Later stage startups like these dominated the larges