Away Raises $100 Million At $1.4 Billion Valuation

  • General
  • May 15, 2019
  • 30
  • 4 minutes read
An Away travel luggage

image: Away

Away — the popular New York headquartered luggage travel brand — has raised $100 million Series D funding that values it at $1.4 billion, up from $400 million last year according to Pitchbook data. Wellington Management Company led the round, with participation from Lone Pine Capital, Baillie Gifford, and existing investor Global Founders Capital. This round included, Away has raised a total of $156 million since inception.

The company says it grew from $12 million in sales in its first 12 months, to $150 million in 2018, and claims it’s projected to double sales this year. With this funding, Away says it’ll expand its product line, grow its physical retail footprint, and fuel international expansion.

An Away travel luggage

image: Away

Away has hit a unicorn valuation just three years after start which is quite impressive. The company is among several others that have raised huge funding recently which include Nextdoor ($123 million at $2.1 billion valuation), GM Cruise ($1.15 Billion At $19 Billion Valuation),  Gett ($200 Million At $1.5 Billion Valuation)Checkout ($230 Million At $2 Billion Valuation), and Rappi ($1 billion from Softbank).

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