Lola.com is a

software as a service Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software. SaaS is con ...

(SaaS) company based in Boston, Massachusetts. It is best known for developing

corporate travel management Corporate travel management is the function of managing a company’s strategic approach to travel (travel policy), the negotiations with all vendors, day-to-day operation of the corporate travel program, traveler safety and security, credit-car ...

and expense software for web browsers, the

App Store An App Store (or app marketplace) is a type of digital distribution platform for computer software called applications, often in a mobile context. Apps provide a specific set of functions which, by definition, do not include the running of the co ...

and

Google Play Google Play, also known as the Google Play Store and formerly the Android Market, is a digital distribution service operated and developed by Google. It serves as the official app store for certified devices running on the Android (operating sys ...

. The company was founded in 2015 by former

Kayak.com Kayak (styled as KAYAK) is an American online travel agency and metasearch engine owned and operated by Booking Holdings. Kayak's website and mobile apps are currently available in over 18 languages and more than 30 countries, including the Un ...

executives,

Paul M. English Paul M. English (born 1963) is an American tech entrepreneur, computer scientist and philanthropist. He is the founder of Boston Venture Studio, and previously co-founded and served as CTO of Kayak (company), Kayak. In November 2012, Kayak was ac ...

and Bill O'Donnell. The website operates under a

travel agency A travel agency is a private retailer or public service that provides travel and tourism-related services to the general public on behalf of accommodation or travel suppliers to offer different kinds of travelling packages for each destinatio ...

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. Lola has received more than $80 million in funding since its foundation.

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 In business, stealth mode is a company's temporary state of secretiveness, usually undertaken to avoid alerting competitors to a pending product launch or another business initiative. When an entire company is in stealth mode it may attempt to ...

. The company's name was derived from a combination of the words "latitude" and "longitude". It acquired HopOn, a travel booking company, in 2015 and Room77, a hotel metasearch website, in 2016. The company launched an

iOS iOS (formerly iPhone OS) is a mobile operating system created and developed by Apple Inc. exclusively for its hardware. It is the operating system that powers many of the company's mobile devices, including the iPhone; the term also includes ...

application in April 2016 where users chatted with human travel agents. That same month, it completed a $20 million

Series A A series A round (also known as series A financing or series A investment) is the name typically given to a company's first significant round of venture capital financing. The name refers to the class of preferred stock sold to investors in exchan ...

funding round led by General Catalyst and Accel. The company had more than $44 million in total funding after a December 2016

Series B A venture round is a type of funding round used for venture capital financing, by which startup companies obtain investment, generally from venture capitalists and other institutional investors. The availability of venture funding is among the ...

round led by

Charles River Ventures Charles River Ventures (CRV) is a venture capital firm focused on early-stage investments in technology. The firm was founded in 1970 to commercialize research that came out of MIT. Its name comes from the Charles River. History The firm has rai ...

. GV and

Tenaya Capital Tenaya Capital is a venture capital firm with offices in Portola Valley, California, and Wellesley, Massachusetts. Founded in 1995 as Lehman Brothers Venture Partners, Tenaya spun out to become an independent firm in 2009 following Lehman's bankr ...

each invested $5 million in the round, while previous investors General Catalyst and Accel also participated. In July 2017, Lola had its second major release on iOS and the

Android operating system Android is a mobile operating system based on a modified version of the Linux kernel and other open-source software, designed primarily for touchscreen mobile devices such as smartphones and tablets. Android is developed by a consortium of deve ...

. This iteration of the application focused on business travel by adding self-service hotel and flight booking and personalized travel recommendations. 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 Cybereason is a cybersecurity technology company founded in 2012. It is headquartered in Boston, Massachusetts, with additional office locations in London, UK, Tokyo, Japan, and Tel Aviv, Israel. History In July 2012, Cybereason was founded and ...

, becoming the company's chief executive officer. Lola announced a five-year exclusive partnership with

American Express Global Business Travel American Express Global Business Travel (GBT) is a multinational travel and meetings program management company headquartered in New York City. GBT has 13,500 employees in more than 140 countries. Paul Abbott has been the CEO of GBT since October ...

in November 2018 to sell its travel management software. In March 2019, the company announced a $37 million Series C round led by General Catalyst and Accel. The round also included participation from all previous investors – Charles River Ventures, GV, and Tenaya Capital. In February 2021, due to the

impact of the COVID-19 pandemic on tourism The COVID-19 pandemic has impacted the tourism industry due to the resulting travel restrictions as well as slump in demand among travelers. The tourism industry has been massively affected by the spread of coronavirus, as many countries have i ...

, the company pivoted to developing software for the

financial technology Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are ...

industry. Lola ceased operations in September 2021 according to a notice on its website citing "new things to come" for the company. In October 2021, it was announced that

Capital One Capital One Financial Corporation is an American bank holding company specializing in credit cards, auto loans, banking, and savings accounts, headquartered in McLean, Virginia with operations primarily in the United States. It is on the list o ...

was acquiring Lola.

References

{{reflist, 2

External links

Official websiteFrom CMO To CEO: Lola.com's Mike Volpe
As a service Software distribution Software industry Companies based in Boston