Russian travel site raises successfully closes new round of funding

Moscow-based online hotel booking firm Ostrovok.ru has successfully raised capital from three investors last month to expand its IT developer team. The investors include Erik Blachfold of Expedia, Greg Brockway of Hotwire and Tripit, and Altimeter Capital’s Brad Gerstner.

Ostrovok (ostrovok.ru)
Founded in 2010, Ostrovok had earlier secured $13.6 million in July 2011 from a string of leading private equity investors including industry heavyweights like Accel Partners and General Catalyst Partners. The company presently maintains a database of 13,000 hotels spanning 200 countries and employs about 100 people in their Moscow office.