Site 59 Snags $10.5M Series B

With its last minute travel site up-and-running, is expected to announce today that it recently secured $10.5 million in its second round of institutional funding. I-formation led the deal, and was joined by strategic investors Accor Group, Bass Hotels & Resorts and National Leisure Group.

The company works in the so-called last minute travel window by working with suppliers to bring distressed inventory like unused concert and plane tickets to Web-savvy consumers.

“We’re offering something different than other [travel sites] by letting people plan complete vacations,” said Michelle Peluso, chief executive with “We’re not trying to compete head-on with what Travelocity and Expedia are doing.”

She added that, although not certain, the firm may close another strategic deal within the next month.