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.