Farecast Takes $12 Million More

Michael Arrington

J. Michael Arrington (born March 13, 1970 in Huntington Beach, California) is a serial entrepreneur and the founder of TechCrunch, a blog covering startups and technology news. Arrington attended Claremont McKenna College (BA Economics, 1992) and Stanford Law School (JD, 1995) and practiced as a corporate and securities lawyer at two law firms: O’Melveny & Myers and Wilson Sonsini Goodrich... → Learn More

Tuesday, January 30th, 2007

For good or bad, venture funds are flowing like it’s 1999 all over again. Seattle-based Farecast , which predicts and guarantees airline prices, dipped its toes in the cash pool for its third round of financing, taking $12.1 million from Sutter Hill Ventures and others. Previous investors Greylock Partners, Madrona Venture Group, and WRF Capital also participated, as well as new investors PAR Capital Management, Pinnacle Ventures, and Farecast board member and former Expedia CEO, Erik Blachford.

The company has now raised $20.6 million over three rounds. How are they doing? The model seems to be attractive to consumers. Farecast VP Marketing says in just the last few months since launch they’ve “dropped off $200 million in “potential” revenue to airline websites,” a fraction of which will have resulted in actual sales.

blog comments powered by Disqus