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- Away
Away Revenue, Valuation, Funding & Investors
Away is valued at $1.4B as of May 2019, a 9.3x multiple on its last reported $150M revenue.
Last Away valuation
$1.4B
Series D · May 2019
Last Away funding round
$100M
Series D · May 2019
Away revenue
$150M
Series D · May 2019
Key investors in Away
Global Founders Capital
Comcast Ventures
Forerunner
Accel
Battery Ventures
Great Oaks Venture Capital
About Away
Away is a direct-to-consumer travel gear company headquartered in New York City. Founded in 2015, it designs and sells premium luggage including the bestselling Everywhere carry-on suitcase with built-in USB charger, along with backpacks, duffels, and accessories sold through its e-commerce site and retail stores in the US, UK, and Canada. Away expanded into mattresses and apparel under The Away Home line, and partners with Delta Air Lines for co-branded products. The brand operates showrooms in major cities like London and Tokyo.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$150M (May 2019)
Valuation
$1.4B (May 2019)
Away Valuation
Away is currently valued at $1.4B, based on its Series D in May 2019.
The $100M round was led by Wellington Management, with participation from Baillie Gifford, Lone Pine Capital and Global Founders Capital.
Away's valuation has grown 200x from $7M at its seed round in August 2015 to $1.4B in May 2019, across 4 priced rounds.
Away valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| May 2019 | Series D | $1.4B | 9.3x |
| Jun 2018 | Series C | $400M | - |
| May 2017 | Series B | $120M | - |
| Aug 2015 | Seed | $7M | - |
Away Revenue
Away's latest recorded revenue is $150M, as of its Series D in May 2019. At a $1.4B valuation, that implies a 9.3x revenue multiple.
Away revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| May 2019 | $150M | $1.4B | 9.3x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Away Funding History
Away has raised a total of $181M across 5 funding rounds.
Away's first fundraising round was a $3M seed round in August 2015. The most recent completed round was a $100M Series D in May 2019.
Away funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2019 | Series D | Wellington Management (lead); Baillie Gifford; Lone Pine Capital; Global Founders Capital | $100M | $1.4B | Away is a direct-to-consumer travel brand launched in 2016 by Jen Rubio and Steph Korey, initially with its flagship Carry-On suitcase and expanding into other travel products, experiences, apparel, wellness, and lifestyle accessories to make travel more seamless. The company announced a $100 million Series D funding round on May 14, 2019, led by Wellington Management Company LLP, with participation from Baillie Gifford, Lone Pine Capital, and early investor Global Founders Capital, bringing total equity funding to $156 million. This round valued Away at $1.4 billion post-money, up from $400 million in its prior Series C in June 2018, establishing it as a unicorn. Away demonstrated rapid growth since inception, achieving $12 million in sales in its first 12 months (2016), scaling to $150 million in sales in 2018, and projecting to double sales in 2019. The funding supports ambitious expansion plans, including opening 50 new brick-and-mortar stores over three years, growing its international presence from 39 countries with a 10X target, and broadening its product portfolio beyond luggage. By this point, Away had sold over 1 million suitcases and earned accolades like Fast Company's 'World's Most Innovative Companies' and Forbes 'Next Billion Dollar Startup.' The round aligns with Away's vision to build a global community of travelers, leveraging its strong branding in the DTC space amid competition from other consumer brands like Glossier and Rent the Runway. |
| Jun 2018 | Series C | Global Founders Capital (lead); Comcast Ventures; Forerunner | $50M | $400M | Away is a direct-to-consumer luggage brand founded in 2015 by Steph Korey and Jen Rubio, focusing on stylish, functional carry-on suitcases and travel gear targeted at millennials. The company disrupted the legacy luggage market with Instagram-friendly designs, built-in batteries, and premium pricing, selling over 1 million suitcases by mid-2019. In June 2018, Away raised a $50 million Series C round led by Global Founders Capital, with participation from Forerunner Ventures, Comcast Ventures, and Accel, bringing total equity raised to $81 million at the time. The post-money valuation was $400 million. The funding supported expansion into brick-and-mortar stores and broader travel merchandise beyond luggage. Away announced reaching profitability in under two years from founding, a rare feat for a startup under three years old. Forbes estimated Away's 2018 revenue at $150 million, reflecting strong traction in the direct-to-consumer space amid a wave of branded consumer startups. Prior rounds included a $2.5 million seed in August 2015 at $7.2 million valuation, $8.5 million Series A in September 2016 at $40 million, and $20 million Series B in May 2017 at $120 million. Backers also included Battery Ventures, Shawn Carter (Jay-Z), Slack CEO Stewart Butterfield, and model Karlie Kloss. |
| May 2017 | Series B | Global Founders Capital (lead); Comcast Ventures; Space Pirates; Forerunner; Accel | $20M | $120M | Away is a US-based direct-to-consumer luggage brand founded in 2015, designing and selling premium suitcases, bags, and organizers with features like space-saving designs and ejectable batteries for charging devices, available via online platform and retail stores. The company expanded into clothing, wellness, and lifestyle products with later funding. In May 2017, Away raised a $20 million Series B round led by Global Founders Capital, with participation from Comcast Ventures, Forerunner Ventures, and Accel, at a post-money valuation of $120 million. This followed an $8.5 million Series A in September 2016 at $40 million valuation (also led by GFC) and a $2.5 million seed in August 2015 at $7.2 million. The Series B aligned exactly with the specified investors and approximate date of 19/05/2017. Subsequent rounds included a $50 million Series C in June 2018 at $400 million valuation with Comcast Ventures, Forerunner Ventures, and GFC. By May 2019, Away closed a $100 million Series D at $1.4 billion valuation led by Wellington Management, with Baillie Gifford, Lone Pine Capital, and GFC, having raised $181 million total and sold over 1 million suitcases. It reported roughly $150 million in sales for 2018 and aimed to double in 2019, claiming profitability by Series C announcement. Away's backers also include Battery Ventures, Shawn Carter, Slack CEO Stewart Butterfield, and Karlie Kloss. Funds from rounds supported retail expansion, product diversification, and scaling operations. |
| Sep 2016 | Series A | Global Founders Capital (lead); Jaws Ventures; Comcast Ventures; Forerunner; Great Oaks Venture Capital; Accel; Florian Leibert | $9M | - | Away is an American direct-to-consumer luggage and travel accessories brand founded in 2015 by Jen Rubio and Steph Korey, based in New York City. The company sells products online and through brick-and-mortar stores in the US, Canada, and UK, featuring innovative designs like built-in batteries for charging devices. Its first carry-on product shipped in February 2016. In September 2016, Away raised $8.5 million in Series A funding, following a $2.5 million seed round in November 2015 from Accel Partners and Forerunner Ventures. Investors in the Series A included Global Founders Capital, Accel, Comcast Ventures, Forerunner, and others. The funds supported company expansion. By the next year (2017), Away grew to 66 employees and projected more than $50 million in sales. It then raised $20 million in Series B funding in May 2017 led by Global Founders Capital, Forerunner Ventures, Comcast Ventures, and Accel Partners. |
| Aug 2015 | Seed | Accel (lead); Forerunner (lead); Compound; Battery Ventures; Comcast Ventures; Liz Keen; Andy Dunn; Jeff Kearl; Andrew Deitchman; BAM Ventures; QueensBridge Venture Partners; Brian Lee | $3M | $7M | Away is a direct-to-consumer lifestyle brand specializing in luggage and travel accessories, founded in 2015 by Stephanie Korey and Jennifer Rubio. The company launched with a seed round in August 2015, raising $2.5 million led by Forerunner Ventures and Accel Partners, with participation from investors including Battery Ventures, Comcast Ventures, and QueensBridge Venture Partners. The post-money valuation for this seed round was $7.2 million, aimed at reducing costs through direct-to-consumer sales to bring high-end luggage to the masses. This seed funding supported Away's initial product portfolio of suitcases. Key backers included prominent consumer-focused VCs like Forerunner Ventures, known for investments in Warby Parker and Glossier, alongside Accel. The round aligned with Away's strategy to disrupt traditional luggage retail. Subsequent rounds built on this foundation, including a $8.5 million Series A in September 2016 at $40 million valuation and later growth to a $1.4 billion Series D in 2019, with total funding exceeding $156 million across rounds. |
Who has invested in Away?
20 investors have backed Away across its funding rounds, including Global Founders Capital, Comcast Ventures, Forerunner, Accel, Battery Ventures and Great Oaks Venture Capital.
Lead investors include Wellington Management, Global Founders Capital, Accel and Forerunner.
Away Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | Aug 2015 | ||
| 4 | Lead | Sep 2016 | ||
| 4 | Lead | Aug 2015 | ||
| 3 | Lead | Aug 2015 | ||
| 1 | Participant | May 2019 | ||
| 1 | Participant | Aug 2015 | ||
| 1 | Lead | May 2019 | ||
| 1 | Participant | May 2019 | ||
| 1 | Participant | Sep 2016 | ||
| 1 | Participant | Aug 2015 | ||
| 1 | Participant | May 2017 | ||
| 1 | Participant | Aug 2015 | ||
| 1 | Participant | Aug 2015 | ||
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Start Free TrialAway Competitors
Away competitors include listed companies like Syoung Group and Gold.com, and private ones like Desigual, Bucketplace, Lush Fresh Handmade Cosmetics and GP Club.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $952M | $252M | $3B | 3.1x | ||
| Private | $181M | - | $1.4B | 7.7x | ||
| Publicly listed | $742M | $45M | $1.4B | 1.9x | ||
| Publicly listed | $26B | $180M | $1.4B | 0.0x | ||
| Private | - | - | $1.5B | - | ||
| Private | - | - | $1.3B | - |
Away Public Comps
Away is still privately-owned, but its public comps include Savers Value Village, E-MART, Syoung Group, Gold.com, Bilia, Sailvan Times, Edgars Stores, National Vision, NEXTAGE and Daya Intiguna Yasa.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.7B | $180M | 1.6x | 1.6x | 15.3x | 10.3x | |||
| $21B | $1.6B | 0.5x | 0.5x | 6.4x | 8.6x | |||
| $742M | $45M | 2.0x | 1.9x | 32.4x | 24.9x | |||
| $26B | $180M | 0.0x | 0.0x | 5.3x | 5.2x | |||
| $4.1B | $292M | 0.6x | 0.5x | 7.9x | 7.8x | |||
| $1.8B | $86M | 0.7x | 0.7x | 15.2x | 12.4x | |||
| $34M | $9M | 43.3x | - | 166.8x | - | |||
| $2B | $159M | 1.0x | 1.0x | 12.6x | 9.4x | |||
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Common questions about Away
| When was Away founded? | Away was founded in 2015. |
| Where is Away headquartered? | Away is headquartered in New York City, NY, United States. |
| Is Away publicly listed? | No, Away is a private, VC-backed company. |
| What is Away's valuation? | Away was last valued at $1.4B in its Series D in May 2019. |
| How much funding has Away raised? | Away has raised $181M across 5 funding rounds. |
| What was Away's last funding round? | Away's last funding round was a $100M Series D in May 2019, led by Wellington Management. |
| Who are Away's investors? | Away's investors include Comcast Ventures, Global Founders Capital, Forerunner, Accel, Baillie Gifford, Compound, Wellington Management, Lone Pine Capital, Jaws Ventures, Battery Ventures and 10 others. |
| What is Away's revenue? | Away's latest recorded revenue is $150M (May 2019). |
| What is Away's revenue multiple? | Away's latest valuation implies a 9.3x revenue multiple ($1.4B valuation on $150M of revenue). |
| Which companies are comparable to Away? | Companies comparable to Away include Desigual, Bucketplace, Syoung Group, Gold.com, Lush Fresh Handmade Cosmetics and GP Club. |
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