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]
Lola ceased operations in September 2021 according to a notice on its website citing "new things to come" for the company.
