Tripping, the Kayak of Vacation Rentals, closed its series A funding round after 5 years of hard work.
Adam Rifkin stashed this in Travel!
Tripping, which lets you search through thousands of vacation rental sites, has announced its Series A funding round:
The deal was led by Tripping's female CEO, Jen O'Neal. Only between 4% and 7% VC funding goes to women-led businesses.
The round was co-led by Recruit Holdings and Quest Venture Partners. Tokyo-based Recruit Holdings is one of the largest privately held companies in Asia, which has built several travel businesses, including one of Japan's largest online-booking sites. They're also known for having acquired Indeed.com for roughly $1 billion and being an LP behind several notable VC firms on Sand Hill Road.
"This is still a new concept, so the fact that Recruit wanted to co-lead the round shows that we're onto something," O'Neal told Business Insider in an interview. "We're going after an area in the travel space that isn't completely saturated, so there is huge opportunity for growth."
Also joining the round are Erik Blachford (former Expedia CEO), Fritz Demopoulos (founder of metasearch giant Qunar), and Shawntae Spencer (an NFL athlete), among others.
They worked on this problem for over 5 years before they raised series A. Wow!