Ostrovok raises $12 million

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Ostrovok.ru is a Russian accomodation booking startup that has raised $12 million in funding from Vaizra Capital Russia. Vaizra is a fund that is backed by Vyacheslav Mirilashvili and Lev Leviev, the co-founders of Vkontakte. Vkontakte is the largest social network in Russia.

Ostrovok will be using the funding to expand internationally. Other investors of Ostrovok include Yuri Milner, Accel Partners, Esther Dyson and Atomico Ventures.

Ostrovok recently signed global distribution agreements with Marriot, Accor, Rezidor and Fairmont.

[Source: TechCrunch]

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