Hopper, a travel technology company with offices in Boston, said Tuesday it raised $175 million in new funding, allowing the firm to expand as more people return to traveling.
The deal, led by GPI Capital, values the company at $3.5 billion, and brings total investment in it to nearly $600 million, a company official said. Hopper also reported revenue growth of 330 percent compared with last year, and 100 percent growth over the first quarter of 2020, its last pre-pandemic quarter.
Hopper uses algorithms fueled by artificial intelligence to provide customers with pricing predictions and travel recommendations. Earlier this year, Hopper expanded its offerings, allowing companies to use its travel booking platform for their customers.
Frederic Lalonde, chief executive and cofounder of Hopper, said the investment will allow Hopper to help spark a rebound for the travel industry, which was decimated by the pandemic and caused local travel companies, including Hopper, to lay off workers.
“The success of our fintech offerings demonstrate that travelers are willing to pay for flexibility and assurance as they resume traveling again,” he said in a statement.
Hopper, which was founded in 2007 and is headquartered in Montreal, will use the funding to make acquisitions and ramp up its customer service team.
The company, which employs roughly 1,200 employees globally, plans to hire another 500 employees, with 300 workers in customer service roles. A “significant portion” of the 200 non-customer service hires plan to be in the Boston region, where 75 employees currently work, a company spokeswoman said.