U.S. search engine for vacation homes and short-terms rentals Tripping.com, has raised $35 million in Series C funding from an international suite of investors.
The funding was led by investment company Princeville Global (who have offices in Silicon Valley and Hong Kon) and will be used by Tripping to expand both within the US and internationally.
The site launched in 2011 and has partnered with a number of rental sites including HomeAway, VRBO, TripAdvisor and Booking.com. The search site operates by pulling its partners’ listings into a single platform, to create an interface that makes it easy for travelers to search, compare, and book vacation homes around the globe.
Tripping.com also announced that it will generate over $500 million in gross bookings this year, a 600% increase over 2015, and that it has expanded its inventory to 10 million property listings, providing consumers with the broadest choice of vacation rental inventory anywhere online.
Jen O'Neal, founder and CEO of Tripping.com said the site has expanded rapidly over the past five years.
“When we launched Tripping.com in 2011, it took an average of nine days to book a vacation rental. Now it takes less than nine minutes thanks to our back-end technology and onsite booking capabilities,” O'Neal said.
“Today we’re excited to announce our Series C, a round that will enable us to expand aggressively and build Tripping.com’s brand both in the US and internationally. We chose to work with Princeville Global for their industry expertise as well as their ability to help us build our presence in Asia and seize the massive global opportunity in front of us.”
The round also includes an investment from Adams Street Partners in Silicon Valley, along with contributions from notable firms and individual investors who participated in Tripping.com’s prior financings, including their $16 million Series B last year.
Current investors include Steadfast Venture Capital and Quest Venture Partners, as well as travel industry veterans Erik Blachford (former CEO of Expedia), Fritz Demopoulos (founder of travel metasearch giant Qunar in China), and Monte Koch (board member at Choice Hotels & founder of Auction.com).