CouchSurfing, a San Francisco, CA-based social travel network, has closed $15m in funding.
The round was led by new investor General Catalyst Partners, with participation from Menlo Ventures and existing investors Benchmark Capital and Omidyar Network.
The company intends to use the capital to expand product management and engineering teams to enable innovation across its mobile and online platforms. Over the coming months, CouchSurfing will continue to hire engineers and product managers and finalize new iOS, Android and website features, set to begin rolling out later this year.
Founded in 2004, incorporated in 2011, and led by CEO Tony Espinoza, CouchSurfing enables people worldwide to discover each other online so they can share their cultures, hospitality and experiences offline. It hosts thousands of activities by more than 40,000 interest groups, including language exchanges, bicycle tours, museum visits and volunteer opportunities.
In conjunction with the funding, Jonathan Teo, Managing Director at General Catalyst Partners, has joined the company’s Board of Directors.
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FinSMEs
22/08/2012