SAN FRANCISCO — Tripping.com, the world’s largest search engine for vacation homes and short-term rentals, has raised $35 million in Series C funding from an international suite of investors led by Princeville Global.
Tripping.com says 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.
Tripping.com has partnered with the world’s top rental sites including HomeAway, VRBO, TripAdvisor, Booking.com and dozens more. By pulling their partners’ listings into a single platform, Tripping.com makes it easy for travelers to search, compare, and book vacation homes around the globe.
“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,” said Jen O’Neal, founder and CEO of Tripping.com. “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 is being led by Princeville Global, with offices in Silicon Valley and Hong Kong, whose partners have a long history of success in backing leading technology companies looking to expand internationally, especially into Asia.
The round also includes an investment from Adams Street Partners in Silicon Valley, along with contributions from 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).