Focus on R&D, talent acquisition, scaling content and partnerships
Pune, India – March 31, 2015: TripHobo, the world’s leading resource of user generated travel itineraries has secured $3 Million in Series B funding led by incoming investor Mayfield and existing investor Kalaari Capital. This is the second round of funding for TripHobo in the 12 months after a Series-A round in July 2014. The funds would be used to primarily invest in R&D, talent acquisition, scaling content and technology integration with the travel ecosystem.
Triphobo is a visual algorithmic trip planner which allows users to choose where they want to travel, suggests attractions, helps plan each trip day in detail and make bookings of the same through the platform. At the backend, it runs an algorithm to optimize the trip taking into account travel distances, open/ close timings, preferred mode of transportation, etc.
“The ambition for Triphobo is to be the central point of the trip planning process by allowing users to plan, optimize and eventually book customized trips by leveraging technology. The founders of TripHobo have demonstrated a keen understanding of the industry and built a scalable platform that has seen great traction over the past year. We believe Triphobo represents the very best of Travel 3.0 and we are very excited to partner with the team”, says Nikhil Khattau, Partner, MF Advisors, advisor to Mayfield India II.
Sumit Jain, Principal, Kalaari Capital says “We believe that customization is going to be the game changer for travel industry in the coming years. Travelers are no longer satisfied with ‘one size fits all’ holidays and are demanding unique experiences. With the perfect mix of technology and people, TripHobo is ideally placed to leverage this trend”
“We’re excited to be now associated two of the leading VC firms in India. Three years ago, we set out to create a global product out of India. Being avid travelers, my co-founders and I felt that there was a massive space for innovation in customization of travel. I believe we’ve been vindicated both by our users, who continue to love the product; and our investors, who’ve reposed their faith in our vision. Mayfield and Kalaari bring decades of rich experience in working with and guiding startups across the globe and we’ll definitely benefit from that” says Praveen, CEO, TripHobo.
About TripHobo: TripHobo is the world’s largest platform for discovering user generated itineraries and using them to create customized travel plans. Currently TripHobo is home to over 70,000 user created itineraries and curated content for close to 400 top tourist cities worldwide. In addition to the travel planner platform, TripHobo also provides planning related information for over 50,000 points of interest that aid users in travel planning. The company has been previously invited to the prestigious Top 30 Travel Innovation Summit in 2014. For more information please visit, http://www.triphobo.com
About Mayfield: Mayfield is a global, early-stage venture capital firm with over $2.6 billion under management. During its 45-year history, the Firm has invested in more than 500 companies, of which 113 have gone public and over 150 have merged or been acquired. The Firm is currently deploying Mayfield XIV, a $365 million fund; Mayfield India II, a $108 million dedicated India fund; and invests in the technology and energy sectors in China. For more information, please visit: www.mayfield.com
About Kalaari Capital: Bangalore based Kalaari Capital is a leading VC firm investing in early stage technology startups in India. The firm counts companies such as Snapdeal, Myntra, UrbanLadder, Attero, Via, Magzter, Simplilearn in its portfolio. For more information, please visit www.kalaari.com