Inside Travel Group, home of Cultural Adventure specialist brands InsideJapan and InsideAsia, has announced a major new investment from Piper and Cool Japan Fund.
Piper, a B Corporation and leading specialist investor in consumer brands and Cool Japan Fund, Japan’s sovereign wealth fund focused on promoting Japanese culture globally, have partnered with Inside Travel Group, investing a combined £20 million ($39.32m) in the specialists.
Since the reopening of key destinations such as Japan in mid-2022—and following an initial investment from Blandford Capital LLP that same year—the specialist tour operator has seen significant growth.
Co-founder Alastair Donnelly, who founded the company alongside Simon King back in 2000 said: “We have seen incredible growth over the past few years, and we’re thrilled to partner with Piper, with their deep brand expertise, and Japanese sovereign wealth fund Cool Japan for this exciting next phase of growth.”
During the height of the pandemic, the company took the decision to embark on B Corp certification which they achieved in May 2023. The tour operator has also rebuilt its staff numbers under a ‘better and stronger’ policy, now boasting over 250 employees serving customers and agents worldwide. The company continues to maintain world-class standards, achieving a client satisfaction Net Promoter Score (NPS) of 85 and a trade partner satisfaction NPS of 90—among the best in the industry.
While there was little to no business from mid-2020 to mid-2022 across much of the travel industry, 2024 has been Inside Travel Group’s most successful year yet, with departure revenue reaching £65 million—33 per cent higher than a strong 2023.
“Having rapidly rebuilt the business post-Covid, bringing onboard investors who share our values and commitment to ‘travel as a force for good’ will benefit our customers, suppliers, and the local communities we work with across our destinations.
“Working together with our new partners we will be expanding our destination offering in Asia as well as increasing our commitment to community-based tourism across our portfolio and striving to continue improving the overall sustainability of our business.
InsideJapan continues to lead in pioneering community-based tourism experiences, while the InsideAsia brand has expanded post-pandemic, adding several new destinations including South Korea and Thailand, helping to deliver a three-fold increase in revenue.
The investment from Piper and Cool Japan Fund will back the founders Simon King and Alastair Donnelly alongside their senior leadership team and will continue be chaired by Ian Simkins, previously CEO of Audley Travel, bringing extensive experience in brand growth.
Dan Stern, Piper’s Partner, who led the deal, said, “We’re looking forward to backing the Inside Travel Group team as they embark on this next stage of growth. Over the years, we’ve seen firsthand how they’ve scaled across three continents and built a strong culture—even through the challenges of COVID.”
“Our consumer insight work shows that the market size for Asia-focused travel is large and growing quickly, while travellers are more than ever seeking out trusted destination specialist travel brands who can deliver exceptional customer service”.
Masaki Takayanagi, Executive Officer and Managing Director at Cool Japan Fund Inc.commented, “We are excited to partner with Inside Travel Group, supporting their mission to share Japanese culture globally through immersive travel experiences. Utilising our extensive network and expertise around Japan and globally, together, we aim to foster deeper connections between travellers and Japan.”
Donnelly added, “Most important of all, we will continue to provide an incredible service and amazing experiences for our customers, both direct and our trade partners. We are eager to work together to achieve even greater success into the future”.
Feature image: InsideAsia Korea Tour
