IfOnly nabs $10.25 mln in Series B funding

San Francisco-based IfOnly, a marketplace for experiences, raised $10.5 million in Series B funding from investors including Advance Newhouse, Digital Garage, XB Ventures, Dropbox founder and CEO Drew Houston, and Yucaipa Capital chief Ron Burkle. IfOnly has raised $25 million to date.

PRESS RELEASE

IfOnly (www.ifonly.com), America’s leading marketplace for experiences, announced today it has received $10.25 million in a strategic Series B round of funding from several new notable VC firms and angel investors, including Advance Newhouse, Digital Garage, XB Ventures, Dropbox founder and CEO Drew Houston, and Yucaipa Capital chief Ron Burkle. Other previous investors include American Express Ventures, Khosla Ventures, Founders Fund, Nirav Tolia Marc Benioff, Yuri Milner, Marissa Mayer and Jeremy Stoppelman, bringing the total amount raised since launch to over $25 Million.

According to CEO and founder Trevor Traina, IfOnly will use the funds to fuel further expansion of the company’s experiences marketplace model into local markets as well as internationally. While signing up world renowned A-list luminaries remains a core objective, IfOnly is investing in technology to better enable locally talented individuals and venues to easily sell any type of experience in a number of different ways: from the traditional buy-it-now model to auctions to even sweepstakes for very rare experiences. With a self-serve, easy-to-use platform anyone can build a profile, post their experiences for sale, and start selling (once accepted). The platform is currently being tested in San Francisco with further city expansion expected in the near future.
In addition, through a joint venture with XB Ventures in Mexico City, the company launched in Latin America last month with IfOnly.mx. IfOnly has also formed a specific division, “IfOnly for Business,” to more aggressively pursue the corporate meetings and incentives business.
“With recent stats showing seventy-two percent of people would rather spend their money on experiences than things, it’s easy to see that the long-predicted ‘Experience Economy’ has arrived and continues to strengthen,” said IfOnly CEO and founder Trevor Traina. “IfOnly leverages this movement with a platform that connects the world’s most interesting and talented people – those offering unique talent, skill, renown or VIP access – with consumers and businesses interested in accessing these experiences. This investment enables us to realize the full potential of this trend, locally and across the globe.”
IfOnly also recently announced the addition of Dick Costolo to the company’s Board Of Directors, which includes Allison Pincus (One Kings Lane), Tony Florence (NEA), John Sykes (ClearChannel), Keith Rabois (Khosla Ventures) and Harshul Sanghi (Amex Ventures).
ABOUT IFONLY: IfOnly is a marketplace for incredible experiences. From unique everyday offerings with local experts to once-in-a-lifetime connections with lauded luminaries, IfOnly provides access to a curated selection of extraordinary experiences that benefit worthy causes around the world. IfOnly was founded in 2012 by serial entrepreneur Trevor Traina and is funded by NEA, Khosla Ventures, Founder’s Fund, American Express Ventures, Triple Point Capital, and other notable investors. The company is based in San Francisco.