Written on April 17, 2008 at 3:37 pm, by Gregg Brockway
It feels great to announce today that TripIt has raised $5.1 million from three world-class investors. Each brings something special to the table that will help us reach our goals.
Our first round investor, O’Reilly AlphaTech Ventures continues to be a terrific sounding-board on the evolution of the Web among other things. With 30% of our traffic coming from outside the United States already, international expansion is an exciting opportunity for TripIt. We expect our second investor, the Samwer brothers at European Founders Fund to be super helpful in growing globally. Finally, having one of the largest travel companies in the world become our third investor is a terrific validation of our business, and Sabre Holdings (owners of Travelocity and many other travel services) has the potential to help us further accelerate our growth.
What will we do with the money? First and foremost to continue to build out our vision for an indispensable travel utility that helps make travel easier. We’re thrilled to see how positively travelers are responding to our service today and can’t wait to see how they will react to all the terrific enhancements that the new funds will enable us to roll out. We will also be adding a few more people to the team in the areas of engineering, product management and community support, but we continue to believe that a small team focused on a specific problem is the best way to keep moving fast.
Of course, all work and no play makes TripIt a dull place, so tonight we’re going to enjoy ourselves. So, if you’re in San Francisco, please stop by the Connecticut Yankee (17th and Connecticut) from 4pm to 6pm and we’ll buy you a cocktail to celebrate!