Friday - Jun 23, 2017

Hipmunk raise $20 million in Series C round funding


Hipmunk raise $20 million in Series C round funding

Online travel portalHipmunk announced the raising of an additional $20-million in Series C funding, brings the total raised by the company since it was founded in 2010 to just under $40 million.

Leading the way in the latest funding round was venture capitalists Oak Investment Partners.

According to a company statement, this most recent capital injection will be largely applied to expanding Hipmunk’s cross-platform strategy, well at the same time introducing new sources of information for their potential and existing clients such as information on locally owned car rental services.

San Francisco -based Hipmunk was established with a view to providing services for members of the business community who find the whole concept of travel search to be overly time-consuming. Since their founding, Hipmunk have carved out a considerable share of the market due to an uncanny ability to reduce time spent in organising travel plans as well as offering genuine costs and improved service.

The rationale behind Hipmunk thinking was to eliminate necessity, which the business traveller seemed destined to live with for eternity, of scanning seemingly never-ending lists of what usually transpired to be irrelevant search results when they will look out for a particular hotel, flight or any other link in their business travel plan.

Hipmunk have overcome these problems thanks to the development of a technology that allows the presentation of travel is search results in a visual timeline. Their specially developed filter system that allows people to select the best travel package for them almost at first glance, through providing “real time” travel information.

To add a personal touch to their travel booking services, Hipmunk have established a network of locally based travel writers whose role it is to prepare highly localised travel guides, instead of depending on second or often third hand information. The Hipmunk team of travel writers has been trained to get grassroots level as far as providing hotel facility information is concerned, meaning an almost total end to the unpleasant surprises and unexpected costs which business travellers prefer not to encounter.

Another advantage in having access to highly localised information is Hipmunk’s ability to provide what they describe as “heat maps” for every one of the hotels on their list, which provides accurate and often individually tested information on local restaurants, entertainment as well as accessibility of the particular hotel.

Thanks to this and their many other customer friendly services, hotel bookings through Hipmunk have grown consistently, as well as rapidly, showing a sixfold increase over the last 12 months, also thanks to an added feature which Hipmunk introduced during the year which allows for same-day hotel booking for the unexpected last-minute business trip.

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