Hipmunk Secures $20M to Make Travel Planning Easier.
The most fastest,easiest way to plan travel, Hipmunk, has recently announced a $20 million Series C financing round led by Oak Investment Partners.
Hipmunk shall use the funds to accelerate its industry-leading cross-platform strategy, hiring, customer acquisition, and partnership efforts. General partner with Oak Investment Partners, Ren Riley, will be joining the Hipmunk board of directors. Existing angel investors; Series B lead,Institutional Venture Partners; and Series A lead, Ignition Partners join during this round.
“The winners in the next generation of travel will be the companies that can do the best job serving all user needs, across all platforms.” said Adam Goldstein, CEO and co-founder of Hipmunk. “Oak’s travel and mobile experience make them a tremendous addition to our existing investment team and an ideal partner.”
During the pass of more than three decades, Oak Investment Partners have invested across give growth sectors, these include information technology, Internet and consumer, financial services technology, healthcare services, and clean energy. In the Internet and consumer spaces it has backed many companies such as Kayak, GMarket, Huffington Post, Bleacher Report, Thrillist Media Group, Wonga, and B5M.
“We’re eager to invest in great entrepreneurs and companies that are capitalizing on mobile trends,” said Ren Riley, general partner at Oak Investment Partners. “Hipmunk has both of these qualities, and in less than four years, has developed an energetic user base, industry-leading cross platform integration, and key partnerships that we’re excited to help grow.”
Hipmunk was initially founded during June 2010 when Adam Goldstein graduated from MIT and set out with Steve Huffman, co-founder of Reddit, to take the pains away from traveling. Hipmunk’s unique visual display makes it much more easier for user to identify the best travel option while its “pains” flight filtered and “ecstasy” hotel filter show results based on a combination of convenience and price.
During February 2011, Hipmunk managed to launch its iOS application and during January 2012 launched its Android application. With te increasing interest in on the go hotel bookings, during August 2013. Hipmunk has introduced Tonight Deals to offers mobile users up towards 60 percent off last-minute hotel bookings. And during March 2014, Hipmunk announced Hipmunk Anywhere, which allowed logged-in user to begin a hotel or flight search on one devices and seamlessly pick up the seach through another devices.