Lvmama, a Chinese tourism website has raised RMB 500 million (US$80 million) in series E funding from Jinjiang International Group.
Lvmama is one of the oldest and largest DIY travel and tourism sites in China. The site aggregates and sells tours, attraction tickets, visa services, trips to resorts, and cruises. Most of the site’s offerings are based in Asia.
Lvmama’s list of competitors include heavily funded rivals like Tuniu, Ly.com, 17U, and Yikuaiqu. It’s also up against larger travel companies like Qunar and Ctrip, which are backed by domestic web giants Baidu and Tencent.
The news comes within days of American travel giant Expedia exiting the chinese market, breaking up partnership with eLong.
The company was founded in 2008 to provide end to end travel facilities online. Lvmama’s previous funding rounds include a US$15 million series C round from South River Capital and Sequoia Capital in 2011, a roughly US$15 million series C round from Sequoia and CDH Fund in 2010, and a US$8 million series A from HuaQiao Capital and DoJane Capital in 2009, as reported by Techinasia.Category Investments