Read the pitch deck that business travel startup Lola used to secure $37 million in funding

Business Insider 1 month ago

Lola.com CEO Mike Volpe thinks business travel on the whole is just horrible – but he saw that as a big business opportunity.

Lola focuses on making it easier for medium-sized companies to manage corporate travel arrangements. Companies use the service to authorize employees to make travel-related purchases and set their own policies for those purchases. Employees then use the custom Lola experience to book work-related trips.

The Boston-based company is competing in an increasingly crowded space, but Volpe thinks Lola has another edge over rivals: its deal with American Express Global Business Travel, one of the largest players in the corporate travel market. American Express is using Lola to target medium-sized companies; its sales team markets Lola to those kinds of customers. And through that relationship, Lola gets access to special deals on airfare and hotels that are only available to American Express that it can offer its customers.

Corporate travel systems have traditionally been clunky, slow, and difficult to use for both employees and administrators alike, Volpe told Business Insider. From the company’s start in 2014, he designed Lola.com to be different. Co-founder Paul English, who was also a cofounder of Kayak, has experience in designing a popular and easy-to-use consumer travel sites, which helped inform the design of Lola.

Companies can get set up on Lola in less than an hour, according to Volpe, and once they're on the system, their employees can book a trip in minutes. Lola offers 24/7 customer support that's available within a minute, he said.

Investors are excited about Lola's potential. In June of 2019, the company raised $37 million in a Series C funding round co-led by General Catalyst and Accel, according to PitchBook. Volpe expects the company to grow from about 75 employees to about 130 by the end of the year, all within its Boston headquarters.

To fully understand Lola’s strategy, Business Insider Prime has published the pitch deck the company used to raise its latest funding round. Simply enter your email address to receive a FREE download of the full deck!


Source link
Read also:
Business Insider › Finance › 1 week ago
London-based startup New Vector raised $8.5 million to further expand its secure, decentralized messaging system Matrix. The company used a 19-slide pitch deck to lure in investment from prominent tech VCs including Notion Capital, Dawn Capital, and...
Business Insider › Finance › 0 month ago
London startup Tessian has raised funding from some of the biggest names in VC including Accel and Sequoia. The company's $42 million Series B earlier this year was partly successful because Sequoia Capital were impressed by Tessian's pitch deck and...
Business Insider › 1 week ago
Cloosiv, a startup offering mobile ordering for independent coffee shops, has raised $1 million in seed funding. . Investors include cofounder of Y Combinator accelerator, Paul Graham; Avichal Garg, who is Facebook's former director of product...
Business Insider › Technology › 1 week ago
Clari just raised another $60 million from new investors, including Sapphire Ventures. The Sequoia-backed AI cloud startup has now raised a total of $135 million, and its valuation has climbed to "just under half a billion," CEO and founder Andy Byrne...
Business Insider › Technology › 1 day ago
When raising venture capital, you'll need more than one version of a pitch deck. Each version will go into a different level of detail about your startup. For example, the teaser deck will include just the basic information and the meeting deck won't...
Business Insider › Finance › 1 month ago
The startup Voro lets people ask their friends for doctor recommendations. Over time, the startup wants to add more data on doctors to help people pick the right clinician. Voro just raised $2.5 million in a seed round led by Floodgate. Read on to see...
Business Insider › Finance › 1 month ago
UK fintech startup Curve has raised $74.2 million to-date with the vast majority coming from its massive $55 million Series B earlier this year. The company's CEO and serial founder Shachar Bialick says the company's pitch deck was a big hit with...
Business Insider › Finance › 2 weeks ago
Tipalti, a fast-growing accounts payable automation startup, just raised $76 million from new investors, including a new fund run by former Twitter CEO Dick Costolo and former COO Adam Bain. The company has raised a total of $129 million in funding...
Business Insider › Finance › 1 month ago
Billions of dollars are invested in startups every year. Whether a startup seeks to raise money from angel investors, venture-capital firms, or other backers, the presentation — or "pitch" — about the business is critical. The most effective pitch...
Business Insider › Finance › 0 month ago
Fivetran, a data analytics startup, announced a $44 million Series B funding round on Tuesday. Andreessen Horowitz led the round with existing investors Matrix Partners and CEAS Investments. Andreessen Horowitz general partner Martin Casado will join...
Sign In

Sign in to follow sources and tags you love, and get personalized stories.

Continue with Google
OR