I’ve been into the idea behind Rocketrip since I first wrote about them back in January. It’s one of those rare everybody-wins business models (like Zenefits, or AirHelp) where they only make money when they make you money.
Seems investors are into the idea, too. Rocketrip has just raised another $3 million.
The idea in question: when you travel on business, Rocketrip challenges you to find ways to save money. If you can beat their budget for a trip, you get paid a portion of the savings — of which they also take a small cut. Your company saves money, you make money, and they make money. Everyone wins.
You can find our previous coverage of Rocketrip here.
Having just raised $2.6 million in their Series A back in February, Rocketrip calls this round an “A1”. Why “A1” rather, than, say, B? Because they see this as more of a continuation of that same round, rather than a landmark round of its own. Their valuation had increased and their investors (including a few new ones) wanted in again, so they raised another $3M.
This round is backed by their previous investors Genecast Ventures and Canaan Partners, joined this time by Paul Buchheit (the creator of Gmail) and CrunchFund… the latter of which means I’ll have to remember to write this whenever I write about Rocketrip now:
[Disclosure: CrunchFund was founded by TechCrunch founder Michael Arrington]