Ostrovok Raises $13.6M in Series A Funding

Published On July 12, 2011 |

Ostrovok, a Moscow-based hotels-focused online travel website for Russian consumers, has raised $13.6m in Series A funding.

The round was led by General Catalyst Partners and Accel Partners, with participation from:
- Peter Thiel and Founders Fund (Facebook);
- Niklas Zennstrom and Atomico (Skype);
- Mark Pincus (founder of Zynga);
- Esther Dyson (Yandex board member);
- Fritz Demopoulos (founder of Qunar);
- Sebastian de Halleux (Playfish);
- Naval Ravikant (Epinions, AngelList);
- Felix Shpilman (DST);
- Scott Banister (Ironport, Slide);
- James Hong (Hotornot); and
- Sam Shank (Hoteltonight).

According to a written statement, the funding brings the company’s valuation to more than $35m.

Founded in late 2010 by CEO Serge Faguet and Kirill Makharinsky, Ostrovok intends to build and offer a simple, user-friendly online destination that allows consumers to book hotel rooms around the world at competitive prices.



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