- The round was led by Drive Capital, with the participation of
Outsiders Fund and two other firms, bringing total funding to
$65M since the initial launch in 2017
- Planned helps Meetings & Events leaders manage their
sourcing, payments, and policies through AI-accelerated service -
The investment will enable Planned to expand its AI and travel
capabilities, solidify its position as the true one-stop-shop
global service provider for travel and events - Funding comes after
a year of significant growth, with a 5x YoY revenue growth since
the beginning of the year.
MONTREAL, July 18,
2024 /PRNewswire-PRWeb/ -- Planned, the first
end-to-end solution for Travel & Events, today announced it has
raised 35 million in a Series B round led by Drive Capital, with
the participation of Outsiders Fund and two other firms. This new
funding brings the total capital raised by Planned to $65M.
"Joining Planned at this pivotal moment is
incredibly exciting. Planned's innovative approach makes it a
standout in an industry that is almost tragically old school."
Frederic Lalonde, CEO and Co-Founder
of Hopper
"We've made remarkable strides since our Series A, achieving a
30x increase in revenue and earning the trust of major clients
including PwC, Block, and AWS," said Marc
Bonin, CEO of Planned.
The Series B funding will enable Planned to reinforce its AI
capabilities, continue its global expansion, and launch its Online
Booking Tool to become the first one-stop-shop for Travel &
Event leaders.
"The Meetings & Events industry is highly complex and
remains profoundly traditional and labor-intensive to this day. But
AI changed everything. Our vision is that by combining human
service and AI, we can challenge the status quo that traditional
travel & sourcing agencies (TMCs) present and provide a faster,
more personalized service to clients. We believe that the TMC of
the future has to be tech-enabled, and fundraising will allow us to
accelerate our development."
By augmenting sourcing capabilities through its AI-driven
platform, Planned ensures that 100% of travel and events are booked
within policy, at the right price. T&E is typically the
second-largest spend after payroll, making Planned a highly
strategic partner that can quickly generate millions in
savings.
"We're thrilled to support Planned in their growth phase," said
Masha Khusid, Partner at Drive
Capital. "Their unique positioning, selling service powered by AI,
sets them apart in the market. We've seen exceptional execution
from the team and believe in their vision to revolutionize the
Travel & Events industry."
In addition to the funding announcement, Planned is excited to
welcome Frederic Lalonde, CEO and
Co-Founder of Hopper and former VP at Expedia, to its Board of
Directors. "Joining Planned at this pivotal moment is incredibly
exciting," said Frederic Lalonde.
"Planned's innovative approach makes it a standout in an industry
that is almost tragically old school. I look forward to
contributing to its continued success and expansion."
About Planned
Planned is the first source-to-pay service for Travel &
Events accelerated by technology. Founded in 2017, Planned combines
human service with AI to deliver cost-effective, scalable, and
customized sourcing and booking services. Trusted by major clients
including PwC, Block, AWS, and Instacart, Planned consistently
generates 13% or more on multi-million dollar budgets, enabling
more in-person connections.
For more information, visit planned.com.
Media Contact
Lucie Loubet, Planned, 1
5146258717, lucie@planned.com, www.planned.com
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SOURCE Planned