San Francisco-Based CouchSurfing Raises $15 Million in New Funding

San Francisco -- CouchSurfing, the San Francisco-based developer of a social travel network, said on Wednesday it has raised $15 million in a new round of funding, led by General Catalyst Partners. Menlo Ventures and previous backers Benchmark Capital and Omidyar Network also took part in the round, which increases the funds raised by the company in the past year to $22.6 million. CouchSurfing said it will use the proceeds to expand its product management and engineering teams. "This new funding will allow us to improve the ways in which we serve and strengthen our incredible, diverse community," said CEO Tony Espinoza. The site currently has more than 5 million members, and features more than 40,000 interest groups such as language exchanges, bicycle tours, museum visits and volunteer opportunities.
http://www.couchsurfing.com
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