Lola.com, a Boston, MA-based provider of an Agile Travel Management platform, raised $37m in Series C funding.
The round was led by existing investors General Catalyst and Accel, with participation from all previous investors – CRV, Tenaya Capital, and GV.
The company intends to use the funds to:
– double headcount this year,
– accelerate technology development as part of its commercial partnership with American Express Global Business Travel (GBT) and
– further expand its outreach as it continues to disrupt the $1.6 trillion global travel market.
Founded in 2015 by Paul English, and led by Mike Volpe, CEO, Lola.com provides an Agile Travel Management platform to manage, book and report on business travel, saving employers and travelers time and money.
The system uses machine learning and 24/7 support to allow travelers to book trips, while empowering managers to create policies, view budgets and expenditures, and monitor their globetrotting team efficiently.