My favorite travel site Hipmunk just announced that it has raised $15 million in a Series B round of funding.
The round was led by Institutional Venture Partners, and IVP parter Todd Chaffee will be joining the Hipmunk board. Previous investor Ignition Partners also invested.
In his blog post announcing the round, CEO and co-founder Adam Goldstein says that the IVP investment is a particularly noteworthy as a “vote of confidence”, since the firm normally invests in later-stage rounds.
Hipmunk offers a different way of searching for flights — laying them out in a grid that makes it easy to compare a bunch of flights at once, and allowing users to sort them in a way that minimizes “agony” (for example making it easier to avoid longer flights or flights with multiple layovers). Since its launch in 2010, Hipmunk has also released iPhone and Android apps, to which it recently added hotel search and calendar integration
Hipmunk has now raised about $20 million total. As for what the company will to do with the money, Goldstein says he plans to hire in engineering, business development, and marketing. He also declares his intention to “go big or go home” which means “building a product that’s more complete than any other tool.” So we’ll see some big product announcements in the next few months.
Goldstein also says that for now, Hipmunk won’t be expanding outside of travel.
Hipmunk is a travel search site that aims to take the agony out of travel planning. Their mission is to help people book travel faster and more efficiently. Hipmunk was designed to help people who are overwhelmed with pages of irrelevant search results. Hipmunk presents flight results in a visual â€timeline†that allows people to select the best flight for them at a glance. Hotel results are shown on a map so that people can view where in a...
With $4 billion of committed capital, Institutional Venture Partners (IVP) is a premier later-stage venture capital and growth equity firm in the United States. Founded in 1980, IVP has invested in over 300 companies, 93 of which have gone public. IVP is one of the top performing firms in the industry and has a 32-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. Since its inception, IVP investments...
Ignition is a venture capital firm dedicated to helping the best entrepreneurs seize opportunity. With over $2B under management, Ignition invests in emerging and future leaders in communications, internet, software, and services across business and consumer targets. Ignition brings together an unparalleled combination of domain focus, technical expertise, and global operational experience. Ignition’s partners are proven business leaders who have built some of the world’s most successful businesses of the last two decades, including Microsoft Windows and Office, McCaw Cellular...
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