A company called inBed.me is having huge success with what was once just a Startup Weekend idea. From a Startup Weekend event in New York, the company has grown into a game changer in the world of hostel booking. They are making the experience social and investors love it.
In their seed round, inBed.me raised $1.2 million from Ventech, Quotidian Ventures, CAP Ventures and founders Fabrice Grinda (OLX, Zingy) and Dave Lerner (Columbia Venture Labs, Venture Studio), and others others.
The money will go toward integrating the service with more social networks. Right now it only supports Facebook, but with a strong international market primed for their service, other networks are needed to expand its utility. They will also use the funding to build Android and iOS apps so their service can be used on the go, something that seems very natural for the hostel booking industry in particular.
The funding is the only good news for them either. In addition to this news, inBed.me recently announced a partnership with Hostelworld.com, the current industry leader in online hostel bookings. They will be able to add over 25,000 listings to their system are looking to push into Europe necxt.