We’ve got fantastic news today and are excited to share it with all of you whether you’re a loyal fan, travel enthusiast, part of the tech and investment community or just part of the greater hipmunk family. Two months shy of our two-year anniversary, we are thrilled to announce we’ve raised another round of venture capital—this time led by Institutional Venture Partners (IVP). This round, our Series B, will total $15M and includes a re-up from our Series A lead, Ignition Partners. The Forbes Midas List regular and general partner at IVP, Todd Chaffee, will join our board as the fourth member.
When we launched in August 2010, we were a fledgling Y Combinator startup with just Steve and me as co-founders. We hired a few more engineers, and in February 2011, we announced our first round of institutional funding from Ignition Partners. The amazing Brad Silverberg from Ignition joined our board then, and we also gathered the ex-Expedia “mafia” (Rich Barton, Eric Blachford, and Simon Breakwell) who have acted as advisors and provided a wealth of travel industry knowledge.