Canadian Startup Busbud Raises $1 Million from iNovia Capital and Real Ventures

Posted by Techvibes NewsDesk

Montreal-based intercity bus travel startup Busbud today raised $1 million.

The round was co-led by iNovia Capital and Real Ventures and included participation from Peter Kern, Managing Partner of US private equity firm InterMedia Partners, and Joe Poulin, CEO of travel startup Luxury Retreats. As part of the deal, iNovia's David Nault and Real Ventures' JS Cournoyer are joining as board members.

“As an entrepreneur, I’ve learned that the team you build is the company you build, and the same goes for the partners you associate with," says Louis-Philippe Maurice, co-founder and CEO of Busbud. “Our team has been working very hard to create a great product that solves a real problem for travelers, and we couldn’t dream of a better mix of experience and expertise to take Busbud to the next level.”

Busbud looks to be the go-to web and app for bus travelers worldwide. It gives travelers easy access to intercity bus travel information and ticket purchases on the go, gathering intercity bus schedules for 4,379 cities in 66 countries.

“Busbud is the first service to offer travelers comprehensive access to worldwide bus schedules and ticketing. In a context where the bus industry is largely fragmented, this provides for huge opportunity," says Chris Arsenault, Managing Partner at iNovia.

According to a recent report from DePaul University cited by the American Bus Association, intercity bus travel grew by 7.5% in 2012, making it “America’s fastest growing form of intercity travel by a comfortable margin."

"Real Ventures is proud to join the Busbud team on their quest to transform the intercity bus industry. LP, Michael and Fred are the archetypal visionary entrepreneurs we like to back," says Cournoyer.

Busbud was founded in 2011 by three friends: Harvard MBA Louis-Philippe Maurice, Microsoft Bing veteran Michael Gradek, and Frederic Thouin.

Company:
iNovia Capital
Website:
http://www.inovia.vc
Location:
Montréal, Québec, Canada

iNovia partners with exceptional entrepreneurs to build successful companies in high-growth sectors. The team is comprised of entrepreneurs and sector experts focused on Mobile, Internet and Digital Media. iNovia has offices in Montreal, New York City and Calgary and invests across North America. iNovia has $275M under management across three seed and early-­stage funds. For more information, visit www.inovia.vc... more

Company:
Real Ventures
Website:
http://www.realventures.com
Location:
Montréal, Québec, Canada

We look for inspiring entrepreneurs who exhibit unique insight and appreciation of their target market and industry. You can be first time or seasoned. If you have passion, vision and a big opportunity we want to work with you. We’ve had our successes and failures, so we should know what you’re going through and so we look for entrepreneurs who want our input and are open to this collaborative approach. We look to... more

Company:
Busbud
Website:
http://www.busbud.com
Location:
Montréal, Québec, Canada

Busbud is your worldwide bus travel companion. The Busbud.com website is the most comprehensive source of for intercity bus travel information around the world, displaying bus schedules for 4000+ cities in 60+ countries available in 10 languages and 15 currencies. Busbud offers a search tool allowing travelers to discover and plan their next bus trip. The company is privately funded by angel investors and based in... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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