Planned, a travel and events platform, 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 $65 million.
Marc Bonin, CEO, said the company has made “remarkable strides” since its Series A fundraising, “achieving a 30x increase in revenue and earning the trust of major clients including PwC, Block, and AWS.”
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 and event leaders, said the announcement.
Bonin said the meetings and events industry is highly complex and remains profoundly traditional and labor-intensive to this day. Planned’ s vision, he said, is that by combining human service and AI, “we can challenge the status quo that traditional travel and sourcing agencies 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, said the announcement, Planned ensures that 100% of travel and events are booked within policy, at the right price.
In addition to the funding announcement, Planned said that Frederic Lalonde, CEO and Co-Founder of Hopper and former vice president, at Expedia, to its board of directors.
