Internet News Update: Limos.com Lands $10M for Swanky Online Limo Services

Tuesday, March 29, 2011

Limos.com Lands $10M for Swanky Online Limo Services

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Limos.com, an online marketplace for limousine services, announced this morning that it has raised $10 million in funding.

Limos.com, which provides online bookings and consumer reviews, has become the largest marketplace for limo services, the company said. The company pre-screens all Limo operators and makes it mandatory that they are covered by $10 million in insurance. Limos.com has established partnerships with notable companies including OpenTable and Ticketmaster.

Says T.J. Clark, Limos.com President & CEO, "After our experience at Hotwire.com, we couldn't understand why there wasn't an easy way to search, compare and book car services online, which has been so popular for hotel rooms and airfares."

Although the industry is highly fragmented, ground transportation in the U.S. is a $36 billion industry, with less than 5 percent of reservations currently made online.

The round of funding came from venture capital firm Austin Ventures. Austin Ventures Partners Mike Dodd and John Thornton will join the Limos.com board.

Limos.com, which was found in 2007 by former Hotwire.com employees, had previously raised $5M in funding from Canal Partners.

Tags: Limo.com, online marketplace

Companies: Limos.com

People: John Thornton, Mike Dodd, T.J. Clark