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Lola Travel Announces Additional $10M

BOSTON, MA, Lola Travel, a subscription service for on-demand travel, raised an additional $10 million in Series B funding from GV and Tenaya Ventures, closing the round at $25 million.
According to Tnooz, GV and Tenaya Capital have joined the latest Series B round for on-demand travel service Lola, bringing the total in that investment to $25 million.

The initial announcement of a $15 million round came four weeks ago, in a deal from new investor Charles River Ventures.

CEO and co-founder Paul English says the top-up will be used to support its ongoing tech development and plans to expand into new markets.
GV and Tenaya both put in $5 million apiece.

The personal travel app, which is still only available for iOS and in the US, raised a $19.7 million Series A in April 2016 from General Catalyst and Accel, both of which joined the first element of the Series B round.

GV has previously invested in Uber, Nest, Medium and Slack. Lyft, EventBrite and Revinate have caught the attention of Tenaya over the years.

English says the Tenaya connection 'runs deep, as they were one of the early investors at Kayak,' the travel search company that he co-founded with Steve Hafner and later sold to the Priceline Group for $1.8 billion.
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