Corporate travel management platform Lola.com is beginning a
major expansion initiative sparked by $37 million in new funding.
The Series C round was led by existing investors General
Catalyst and Accel, with participation from previous investors CRV, Tenaya
Capital and GV.
The new funding nearly doubles the company's prior funding,
which was $44.7 million in two rounds.
"As business travelers have become increasingly mobile,
Lola.com's mission is to completely transform the landscape of corporate travel
management," says Lola CEO Mike Volpe.
"The continued support of our investors underscores the
market potential, which is leading us to expand our partner ecosystem and
double our headcount across engineering, sales and marketing. At the core, we
continue to invest in building the best, simplest corporate travel management
platform in the industry."
In November, Lola and American Express Global Business
Travel announced a five-year partnership. That deal gives GBT clients access to
Lola's simplified, self-service travel management tools and gives Lola access
to new customers and access to special air and hotel pricing through GBT.
"Lola.com offers an incredibly simple solution to
corporate travel management, which enables American Express Global Business
Travel to take our value proposition to even more companies across the middle
market," says Evan Konwiser, vice president of product strategy and marketing
for American Express GBT.
Lola was founded in
2015 by Paul English, co-founder of Kayak. It has about 75 employees.
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Source: PhocusWire