Online metasearch service Busbud has raised $9 million in a Series A round co-led by OMERS Ventures and Revolution Ventures.
In May 2013 the Montreal-based bus search brand raised $1.2 million from investors including iNovia Capital and Real Ventures. Both firms have participated in the latest injection of funds.
The new round will be used to continue development of the product, including launching a new version of its mobile app for iOS and Android devices.
The company says it will also continue to grow its 30-strong team, namely in engineering, marketing and business development.
Recently the company signed an agreement with UK-based bus operator, National Express, that enables Busbud to access the operator's 1,600 UK and Europe destinations. The integration with National Express was completed a month ago.
CEO of Busbud, LP Maurice, says:
"It’s easy to find and book plane tickets on sites like Expedia or Kayak. Booking coach tickets online is a whole other story. Our goal is to make it easier to choose coaches."
Managing partner at Revolution Ventures, David Golden, says:
"Busbud solves a real problem for international travellers looking to find the best way to get from A to B. Companies like Uber, Lyft, Hailo and Sidecar are using technology to revolutionize travel for consumers.
"In the same vein, Busbud is using technology to bring clarity and consistency to the global bus industry, which otherwise operates in a fragmented market."
Following the investment, Golden from Revolution Ventures, and Kevin Kimsa from OMERS Ventures will join Busbud’s board of directors.
When asked about Busbud's current service of providing both a metasearch service and also direct booking on site, Maurice told Tnooz:
"Our focus is really around providing a direct booking engine. Currently, the majority of our routes with sales activated are direct booking. Many of our coach partners prefer direct booking because of higher conversion rates and a better experience for users as they can complete the checkout process in their own language. That said, some partners also prefer to handle the transaction on their own sites, which we are also able to accommodate."
Carl Sparks, former CEO of Travelocity, Luc Levesque, VP of SEO at TripAdvisor, Alexandre Hohagen, VP for Latin America and US Hispanics at Facebook, and Jonathan Ehrlich, general partner at Foundation Capital, will join Busbud's board of advisors.
Founded in 2011 by Frédéric Thouin, LP Maurice and Mike Gradek, currently Busbud has a bus operator network of about 1,500 companies, and provides bus scheduling information and booking options for over 10,460 cities in 89 countries, in ten languages and 21 currencies.