iStopOver and PlanetEye will seal a merger in the coming weeks after securing a $3 million venture funding from JLA Ventures and GrowthWorks Commercialization Fund.
The two Toronto, Canada-based travel online travel startups will operate under the iStopover brand name with PlanetEye CEO Jonah Sigel becoming president and CEO of the new company.
PlanetEye started out life as a consumer-facing, travel guide and content site, respected for the proprietary mapping technology from Microsoft it used within the site.
The company has morphed over the past 18 months to focus on providing web technology and travel content to third parties.
iStopOver is an accommodation rental website which also creates individual rental platforms for major sporting events, such as the recent FIFA World Cup 2010 in South Africa.
More details are expected in the coming weeks about the new company's wider strategy but the funding will be directed at expanding the technology in the company and boosting the sales and development programme.