Lola.com Posts 786 Percent Revenue Growth
Company Quadrupled Customer Base, Grew Revenue by 8 Times, Landed 3 Top Executives and Forged Key Commercial Partnership in 2018
BOSTON – Feb. 13, 2019 – Lola.com, the Agile Travel Management™ company that provides a super simple way to manage, book and report on business travel, is reaping the dividends of its 2018 initiatives and creating a strong foundation for momentum in 2019. The initiatives include hiring three key senior executives, the release of new product features that improve savings and offer more transparency in booking travel and forging a significant commercial partnership with American Express Global Business Travel (GBT). As a result, the company experienced a record-setting 423 percent increase in annual travel bookings and 786 percent in revenue at the end of 2018.
“Lola.com had an awesome year in 2018,” said Mike Volpe, CEO of Lola.com. “The company launched new products, signed a commercial partnership with the world’s largest corporate travel management company and added key new executives. All of these efforts drove amazing growth in revenue, customers and business trips booked and set the company up well for additional growth in 2019.”
The strong company momentum underscores a significant market opportunity in global corporate travel that is currently projected at US $1.6T. Studies also show demand for corporate travel solutions that offer transparency and controls for finance teams will continue to get stronger.
In 2018, Lola.com hired Volpe, who is well-known in the SaaS and tech community as part of the founding team of HubSpot, to accelerate company growth. It also added HubSpot alumna and marketing powerhouse Jeanne Hopkins as CMO and HubSpot sales alum Ryan Ball as Vice President of Sales last year.
Lola.com launched new product features targeted at helping companies take control of their business travel needs and budgets. The company is winning over happy customers with a 5 star rating on Capterra and was recently recognized by BostInno as one of the 19 Startups to Watch in 2019.
The company will continue to fill its office space on Summer Street in downtown Boston and expects to double in size with over 60 new hires in 2019. For more information, visit: https://www.lola.com/careers
Lola.com makes spend management and Agile Travel Management real by providing a super simple way to manage, book and report on business travel, saving employers and travelers time and money. Happy employee travel experiences within a policy can be set up in five minutes. Lola.com uses machine learning and 24/7 support to help travelers easily book trips, while empowering managers to create policies, view budgets and expenditures, and monitor their globetrotting team efficiently. Based in Boston, the company was founded in 2015 by Paul English, co-founder of the travel booking site KAYAK, and is led by CEO Mike Volpe, previously CMO at HubSpot. For more information, visit https://www.lola.com/ and connect on LinkedIn, Twitter, Instagram and Facebook.
American Express Global Business Travel (GBT) is a joint venture that is not wholly owned by American Express Company or any of its subsidiaries (American Express). “American Express Global Business Travel,” “American Express,” and the American Express logo are trademarks of American Express and are used under limited license.
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