TLabs, a Times Internet Ltd. initiative, has invested undisclosed amount of funds in travel intelligence company, Skift, as a part of last round. Skift offers news, information, data and services to professionals in the travel industry and professional travelers.
The development was disclosed by Satyan Gajwani, CEO of Times Internet through a Tweet.
— Satyan Gajwani (@satyangajwani) August 16, 2013
On contacting by iamwire, Satyan over their investment in Skift said, “While most media companies are trying to modernize, we love how Rafat and his team are building a lean, relevant media company from the ground up. There’s a lot for us to learn and we look forward to work closer with him and the Skift team.”
Uptil now Skift has raised USD 1.5 mn in funding which also include USD 1.1 mn seed funding round led by Lerer Ventures along-with Ironfire Angel, MESA+, Advancit Capital, Growlab+LX Ventures and a group of eight angel investors which it had raised this year in May.
Skift was co-founded by Rafat Ali and Jason Clampet in 2011. Prior finding Skift, Rafat had also founded PaidContent in 2002, which was sold to Guardian Media in 2008 and subsequently sold in 2012 to GigaOm group. Whereas Jason, is a online travel specialist who ran Frommers.com’s original content efforts and editorial partner relationships and had also ran websites for Citysearch.com for almost six years and wrote guidebooks for Rough Guides.