Lola.com
 | |
Type of site | Corporate travel SaaS |
|---|---|
| Available in | English |
| Created by | Paul M. English Bill O'Donnell |
| URL | lola |
| Commercial | Yes |
| Registration | Required |
| Launched | July 6, 2015 |
| Current status | Offline |
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]
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
[edit]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
[edit]- ^ O'Brien, Kelly (2017-10-04). "Paul English's Lola Travel reboots with businesspeople in mind". www.bizjournals.com. Retrieved 2019-01-18.
- ^ 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.
- ^ Flynn, Kerry (4 October 2017). "This app wants to be the easiest, fastest way to book travel". Mashable. Retrieved 2019-01-18.
- ^ Lieberman, Melanie (2017-10-06). "Every Business Traveler Can Now Have Their Own Personal Assistant". Travel + Leisure. Retrieved 2019-01-18.
- ^ a b c Whittaker, Zack (2017-01-09). "Kayak co-founder Paul English raises $15M for his travel startup Lola". TechCrunch. Retrieved 2019-06-17.
- ^ Bilis, Madeline (2015-12-03). "Kayak Cofounder Paul English Is Introducing His New Venture, Lola". Boston Magazine. Retrieved 2019-01-18.
- ^ "Paul English's startup Lola will rethink travel agency tech first". www.phocuswire.com. Retrieved 2019-01-18.
- ^ "Lola Travel Agent App Acquires Room 77 Technology". Skift. 2016-11-15. Retrieved 2019-01-18.
- ^ 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.
- ^ 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.
- ^ Biesiada, Jamie (2017-10-04). "Lola chat app squares focus on business travel: Travel Weekly". www.travelweekly.com. Retrieved 2019-01-18.
- ^ Maffei, Lucia (2018-07-16). "Cybereason CMO Mike Volpe to Become CEO of Lola". BostInno. Retrieved 2019-01-17.
- ^ O'Brien, Kelly (2018-11-13). "Travel startup Lola.com to partner with American Express venture". www.bizjournals.com. Retrieved 2019-01-18.
- ^ a b 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.
- ^ "Four months after pivot, Lola.com CEO says he sees results". www.bizjournals.com. Retrieved 2022-11-14.
- ^ "Travel management firm Lola ceases operations: Travel Weekly". www.travelweekly.com. Retrieved 2022-11-14.
- ^ "Lola.com is being acquired by Capital One". www.bizjournals.com. Retrieved 2022-11-14.
