Farecast.com, the young Seattle start-up that now owns the niche of predicting airfares, and which continues to roll out new features (like letting you guarantee low fares), has raised $12.1 million more.
The round was led by Sutter Hill Ventures, and includes PAR Capital Management, Pinnacle Ventures, and Farecast board member and former Expedia CEO, Erik Blachford. Existing investors, Greylock Partners, Madrona Venture Group, and WRF Capital also participated — it has raised a total of $20.6 million. VP of Marketing Mike Fridgen told VentureBeat earlier today the funds are to help expand the team.
Indeed, this is a lot of cash, but it helps the company keep ahead in an area where some big players may eventually become eager to move.
Tags: co:farecast, deal, inv:greylock-partners, inv:Madrona-Venture-Group, inv:Par-Capital-Management, inv:Pinnacle-Ventures, inv:sutter-hill-ventures, inv:WRF-Capital, people:Mike-Fridgen
6:34 pm
Microsoft buys travel site Farecast for $115M » VentureBeat said:
[...] technology made it a pretty tempting target for acquisition. As we noted a year ago, the Seattle startup owns its niche of predicting airfares. At the time, we also said that some of [...]