Venture Capital News: Liftopia Raises $5M
SAN FRANCISCO, CA, Liftopia, an online ski-lift ticket sales portal, has raised $5 million in VC funding to further expand its SaaS platform and marketplace.
Liftopia, a San Francisco-based web platform for online ski lift ticket sales, has raised $5 million in venture funding from new and existing investors.
Liftopia plans to use the new funding to further expand its SaaS platform, hire new staff, and accelerate the development of technology products for the ski industry, according to a release. The funding round was led by Industry Ventures, with participation from new investors ru-Net, Thayer Ventures, Marc Benioff (CEO of Salesforce), Spencer Rascoff (CEO of Zillow), Jeremy Stoppelman (CEO of Yelp), and Walter Winshall, along with existing investors First Round Capital, Lowercase Capital, SK Ventures, Xandex, and Erik Blanchford (former CEO of Expedia.) This investment brings the total capital raised by Liftopia to $7.9 million.
Liftopia operates Liftopia.com, an online marketplace for ski lift tickets and other mountainside activities used by over 250 ski resorts across North America. The company also offers a SaaS commerce and revenue management program for ski resort operators called Cloud Store. According to company information, participating ski mountains more than triple their revenue year-over-year, and consumers enjoy an average of 30 percent off advance ticket purchase prices. The company was founded in 2005.
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