US holiday rentals metasearch site Tripping has announced a Series A round of financing led by Recruit Holdings’ RGIP Fund and Quest Venture Partners.
Reports say the firm, touted as the Kayak of the holiday rentals sector, has raised between $5 and $10 million.
Additional participants in the round include former Expedia chief executive Erik Blachford, Qunar founder Fritz Demopoulos, NFL athlete Shawntae Spencer, and other notable investors in Europe and Silicon Valley.
Tripped has been operating for three years and claims to have one million properties in 50,000 cities curated from sites like HomeAway, Booking.com, Wimdu, Interhome, HouseTrip, and Flipkey.
Andrew Ogawa, managing partner of Quest Venture Partners which also led Tripping’s Series Seed funding, said: “We’re pleased to continue supporting the Tripping team and their mission to help travellers find amazing places to stay.
“We look forward to building awareness around the brand and sending qualified leads and bookings to Tripping’s partners.”
Also announced was Recruit Holdings’s formation of RGIP LLC, a 4.5 billion yen fund dedicated to corporate venture capital investments.
Youngji Han, a senior vice president of RGIP, said: “We are excited to announce that Tripping is our first investment.
“We’ve spent considerable time researching the rentals market and we believe that Tripping is in a prime position to become the leading global platform for non-hotel accommodation.”
Tripping chief executive Jen O’Neal, said: “Tripping’s mission is to bring transparency to the market by giving travellers an easy way to search and compare vacation rentals in one place.
“This capital will enable us to rapidly expand into new markets, innovate on our technology, and make strategic plays to secure our position as the world’s number one metasearch site for vacation rentals.”