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Vitruvian Partners boosts investment in Civitatis with an additional USD 50M, aiming to solidify its leadership in the travel market across Spain and Latin America.
Vitruvian Partners has increased its investment in Civitatis, a premier online platform specializing in guided tours and activities for Spanish and Portuguese speakers, by contributing an additional USD 50 million. Founded in 2008 by Alberto Gutiérrez, who remains at the helm as CEO, Civitatis continues to thrive under his leadership.
Civitatis is a rare example of a company that has been cashflow positive from day one, built by its founder without any external capital. The Company remains on track to be a future Spanish unicorn, as a curated marketplace for the large and growing tours and activities category, underpinned by a rapid digitalization tailwind. Founder and CEO Alberto Gutiérrez said, “Our growth and profitability have been fuelled 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. 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, headquartered in Madrid, offers 90,000 activities across 160 countries, with over 10 million customers in 2023. Vitruvian Partner, Sophie Bower-Straziota, said, “Under Alberto’s strong leadership Civitatis has grown at an exceptional rate, 50% each year, whilst maintaining continuous and strong profitability. The market potential is large and growing, with c.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.”
In the upcoming years, Civitatis aims to further solidify its status as the leading brand for tours and activities across Spain and Latin America, with a strong emphasis on Mexico, Brazil, and Argentina—markets where it has consistently led in sales. This investment involves the sale of secondary shares, reflecting the company’s lack of need for primary capital due to its sustained profitability since its inception.
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