Ignition-backed travel startup Hipmunk raises $20 million

Screen Shot 2013-03-26 at 5.17.47 PMTravel planning site Hipmunk announced today that it has raised $20 million in Series C financing. The round was led by Oak Investment Partners, and joined by a number of other past investors in the company, including Seattle’s Ignition Partners.

The company says that the funding will be used to boost hiring, customer acquisition and partnership efforts, as well as its focus on cross-platform development.

Oak General Partner Ren Riley will join Hipmunk’s board of directors as a part of the deal, where he will sit alongside Brad Silverberg from Ignition, Todd Chaffee from IVP, and former American Airlines CEO Bob Crandall, as well as Hipmunk co-founders Adam Goldstein and Steve Huffman.

“We’re eager to invest in great entrepreneurs and companies that are capitalizing on mobile trends,” Riley said in a press release. “Hipmunk has both of these qualities, and in less than four years, has developed an energetic user base, industry-leading cross platform integration, and key partnerships that we’re excited to help grow.”  

Hipmunk, a competitor to Expedia in the travel space, sets itself apart from the competition with an “agony” filter for flights and an “ecstasy” filter for hotels that allow users to automatically tailor their searches for travel results.

In addition, the San Francisco-based company offers users the chance to start a travel search on one device and then pick up the exact same search on another device right where they left off.

Still, the company hasn’t caught up with Expedia, which advertises itself as the world’s largest travel site, and posted a 19 percent year-over-year increase in revenue for its first quarter earlier this month.