Wanderu receives investments from institutional investors
An investment in Wanderu was confirmed by Alta Ventures Mexico. Wanderu is a travel startup firm that assists individuals in searching and booking land transportation requirements. The funding round raised US$2.45 million from sources such as Orbitz Chairman Jeff Clarke, Her Campus Chairman Bill Kaplan, Drummond Capital and Semyon Dukach among others.
Amongst the changes to be made at the firm is in the composition of the company's board of directors as former Greyhound CEO Craig Lentzsch and AVM partner Rogelio De Los Santos becoming directors of Wanderu.
According to Wanderu co-founder and current CEO Polina Raygorodskaya, "Our partnershops allow us to provide end users with up to date schedules, pricing, availability and facilitates the check out process."
The expansion is based on statistics, as 74% of the intercity bus commuters comprise of young executives and students. Ground travel is deemed more convenient for short distance travel with all of its amenities many airline companies do not provide. In another study, this time from DePaul University, bus travel is now the the form of transportation with the highest growth rates for inter-city travel in the United States.