Lola.com

Lola.com

Lola.com

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Lola.com is a software as a service (SaaS) company based in Boston, Massachusetts. It is best known for developing corporate travel management and expense software for web browsers, the App Store and Google Play.[1] The company was founded in 2015 by former Kayak.com executives, Paul M. English and Bill O'Donnell.[2][3]

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The website operates under a travel agency model for hotel and flight search information as well as booking services for businesses. It also has administrative analytics on employee travel and associated costs.[4] Lola has received more than $80 million in funding since its foundation.[5]

History

In July 2015, Blade, a Boston-based incubator, began focusing on a single startup. By December, English announced that Lola had emerged from stealth mode. The company's name was derived from a combination of the words "latitude" and "longitude".[6]

It acquired HopOn, a travel booking company, in 2015 and Room77, a hotel metasearch website, in 2016.[7][8] The company launched an iOS application in April 2016 where users chatted with human travel agents.[9] That same month, it completed a $20 million Series A funding round led by General Catalyst and Accel.[10]

The company had more than $44 million in total funding after a December 2016 Series B round led by Charles River Ventures.[5] GV and Tenaya Capital each invested $5 million in the round, while previous investors General Catalyst and Accel also participated.[5] In July 2017, Lola had its second major release on iOS and the Android operating system. This iteration of the application focused on business travel by adding self-service hotel and flight booking and personalized travel recommendations.[11]

In July 2018, English announced he would assume the role of chief technology officer at Lola, with Mike Volpe, the chief marketing officer at Cybereason, becoming the company's chief executive officer.[12] Lola announced a five-year exclusive partnership with American Express Global Business Travel in November 2018 to sell its travel management software.[13]

In March 2019, the company announced a $37 million Series C round led by General Catalyst and Accel.[14] The round also included participation from all previous investors – Charles River Ventures, GV, and Tenaya Capital.[14]

In February 2021, due to the impact of the COVID-19 pandemic on tourism, the company pivoted to developing software for the financial technology industry.[15]

Lola ceased operations in September 2021 according to a notice on its website citing "new things to come" for the company.[16] In October 2021, it was announced that Capital One was acquiring Lola.[17]

References

  1. [1]
    O'Brien, Kelly (2017-10-04). "Paul English's Lola Travel reboots with businesspeople in mind". www.bizjournals.com. Retrieved 2019-01-18.
  2. [2]
    Castellanos, Sara (2015-12-02). "Everything you need to know about Kayak co-founder's new travel startup". www.bizjournals.com. Retrieved 2019-01-18.
  3. [3]
    Flynn, Kerry (4 October 2017). "This app wants to be the easiest, fastest way to book travel". Mashable. Retrieved 2019-01-18.
  4. [4]
    Lieberman, Melanie (2017-10-06). "Every Business Traveler Can Now Have Their Own Personal Assistant". Travel + Leisure. Retrieved 2019-01-18.
  5. [5]
    Whittaker, Zack (2017-01-09). "Kayak co-founder Paul English raises $15M for his travel startup Lola". TechCrunch. Retrieved 2019-06-17.
  6. [6]
    Bilis, Madeline (2015-12-03). "Kayak Cofounder Paul English Is Introducing His New Venture, Lola". Boston Magazine. Retrieved 2019-01-18.
  7. [7]
    "Paul English's startup Lola will rethink travel agency tech first". www.phocuswire.com. Retrieved 2019-01-18.
  8. [8]
    "Lola Travel Agent App Acquires Room 77 Technology". Skift. 2016-11-15. Retrieved 2019-01-18.
  9. [9]
    Avakian, Talia. "We tested a new app from a cofounder of Kayak, and it was like having a travel agent in our pocket". Business Insider. Retrieved 2019-01-18.
  10. [10]
    O'Neil, Sean (2016-04-05). "Lola, a travel concierge startup, closes its $19.7 million Series A". www.phocuswire.com. Retrieved 2019-01-18.
  11. [11]
    Biesiada, Jamie (2017-10-04). "Lola chat app squares focus on business travel: Travel Weekly". www.travelweekly.com. Retrieved 2019-01-18.
  12. [12]
    Maffei, Lucia (2018-07-16). "Cybereason CMO Mike Volpe to Become CEO of Lola". BostInno. Retrieved 2019-01-17.
  13. [13]
    O'Brien, Kelly (2018-11-13). "Travel startup Lola.com to partner with American Express venture". www.bizjournals.com. Retrieved 2019-01-18.
  14. [14]
    Lunden, Ingrid (2019-03-26). "Lola.com raises $37M to take on SAP and others in the world of business travel". TechCrunch. Retrieved 2019-06-17.
  15. [15]
    "Four months after pivot, Lola.com CEO says he sees results". www.bizjournals.com. Retrieved 2022-11-14.
  16. [16]
    "Travel management firm Lola ceases operations: Travel Weekly". www.travelweekly.com. Retrieved 2022-11-14.
  17. [17]
    "Lola.com is being acquired by Capital One". www.bizjournals.com. Retrieved 2022-11-14.
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