- Planned raised $35 million in Series B funding led by Drive Capital, with Outsiders Fund and two other investors participating.
- Total capital raised by Planned now stands at $65 million.
- CEO Marc Bonin highlighted a 30x revenue increase and major clients such as PwC, Block, and AWS since Series A.
- Series B funds will enhance AI capabilities, support global expansion, and launch an Online Booking Tool.
- Planned aims to disrupt the traditional Meetings & Events industry by integrating AI with human service for more personalized client experiences.
- The AI-powered platform ensures compliance and cost efficiency in travel and event bookings.
- Drive Capital’s Masha Khusid praised Planned’s AI-driven approach and execution.
- Frederic Lalonde, CEO and Co-Founder of Hopper, joins Planned’s Board of Directors.
Main AI News:
Planned, a leading provider of end-to-end solutions for Travel & Events, has successfully secured $35 million in Series B funding, spearheaded by Drive Capital, with contributions from Outsiders Fund and two other investors. This round elevates Planned’s total funding to $65 million.
Marc Bonin, CEO of Planned, highlighted the company’s impressive growth since its Series A round, noting a 30x revenue increase and the acquisition of high-profile clients such as PwC, Block, and AWS. The Series B capital infusion is set to enhance Planned’s AI capabilities, drive global expansion, and support the rollout of its Online Booking Tool, positioning it as the premier comprehensive solution for Travel & Event leaders.
Bonin emphasized the transformative impact of AI on the traditionally complex and labor-intensive Meetings & Events industry. “By integrating human service with AI, we aim to disrupt the conventional travel and sourcing agencies, offering clients faster and more personalized services. Our goal is to develop a tech-enabled TMC of the future, and this funding will accelerate that vision.”
Planned’s AI-powered platform is designed to optimize travel and event bookings, ensuring compliance with policies and achieving cost efficiency. As T&E is often the second-largest expenditure after payroll, Planned’s services present a strategic advantage for generating substantial savings.
Drive Capital Partner Masha Khusid expressed enthusiasm for Planned’s growth, praising the company’s distinctive AI-driven approach. “Planned’s innovative service offering positions them uniquely in the market. We’ve observed outstanding execution from their team and are confident in their potential to transform the Travel & Events sector.”
In conjunction with the funding news, Planned is also pleased to announce the addition of Frederic Lalonde, CEO and Co-Founder of Hopper and former VP at Expedia, to its Board of Directors. Lalonde commented, “Joining Planned at this crucial juncture is thrilling. Their groundbreaking approach distinguishes them in an industry that remains outdated. I’m eager to contribute to their ongoing success and expansion.”
Conclusion:
Planned’s successful Series B funding round reflects a strong investor confidence in its ability to revolutionize the Travel & Events sector. With the infusion of capital, Planned is poised to leverage its AI-driven platform to challenge traditional models and offer enhanced, tech-enabled services. This strategic move not only underscores the growing importance of AI in optimizing business operations but also positions Planned as a significant player in driving industry innovation and achieving substantial cost savings for clients.
