Vitruvian Partners increases stake in tour and activity marketplace Civitatis

Civitatis, a marketplace for guided tours and activities for Spanish and Portuguese speaking consumers, has received an additional $50 million from existing investor Vitruvian Partners. Vitruvian invested a reported $100 million in Civitatis in April 2022.

Civitatis said the new investment is a sale of secondary shares, “as the company has no need for primary capital, having been profitable since inception.”

Founded in 2008 and based in Madrid, Civitatis offers 90,000 activities across 160 countries. The company said it had 10 million customers in 2023.

“Our growth and profitability have been fueled by a combination of highly effective sales channels, well-invested technology platform and a customer-centric approach, providing the activities and tours in our customers’ own preferred language,” said founder and CEO Alberto Gutiérrez.

Our customers appreciate our expertly curated catalogues of activities across the world, as well as the easy booking and, of course, the outstanding experience that they have with us. With the support of Vitruvian, we are continuing to expand our offerings and meet the demands of our rapidly growing customer base.”

The company said it is focused on growing its business across Spain and Latin America with a focus on Mexico, Brazil and Argentina.

“Under Alberto’s strong leadership Civitatis has grown at an exceptional rate, 50% each year, whilst maintaining continuous and strong profitability,” said Sophie Bower-Straziota, a partner at Vitruvian.

“The market potential is large and growing, with [about] 750 million Spanish and Portuguese speakers worldwide. We were delighted to have the opportunity to increase our shareholding and provide additional support for the company to continue its impressive expansion.”