Business Travel Startup Lola Raises $37M to Double Headcount in Boston

March 26, 2019

Business travel software startup Lola is keeping its foot on the gas.

The Boston-based company is doubling its headcount—another 60 employees by the end of the year, mostly in sales and engineering—to keep up in the race to dominate the $1.6 trillion global travel market.

Lola, started in 2016 by Kayak co-founder Paul English, is fueling the growth with a new $37 million funding round announced today from existing investors General Catalyst and Accel. Previous investors—CRV, Tenaya Capital, and Alphabet’s GV—joined in the round. The cash puts the total invested in Lola at $81.7 million.

Lola CEO Mike Volpe, former HubSpot (NYSE: HUBS) marketing chief, says the company’s investors urged him to raise the new money.

“As we started to gain traction and grow, the investors leaned in and said maybe you should take more capital to scale business,” Volpe tells Xconomy.

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