Lola nearly doubles funding with $37M capital injection

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 Mike Volpe, CEO of Lola.com.

"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.com and American Express Global Business Travel announced a five-year partnership. That deal gives GBT clients access to Lola.com’s simplified, self-service travel management tools and gives Lola.com both 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.com was founded in 2015 by Paul English, co-founder of Kayak. It currently has about 75 employees.