Lanyon, Inc., a provider of content, bid and spend management solutions to the travel and hospitality industries, today announced that it has received $10 million in expansion funding from Frontier Capital. Frontier is a private equity firm providing growth equity to technology enabled business services companies.
Press release:
Lanyon, Inc., the leading provider of content, bid and spend management solutions to the global travel and hospitality industries, today announced that it has received $10 million in expansion funding from Frontier Capital. Frontier is a private equity firm providing growth equity to technology enabled business services companies.
As the world’s largest online hospitality marketplace, Lanyon provides content and bid management solutions to over 90,000 hotels and spend management solutions to hundreds of corporations. Together with the travel management companies that use its solutions, it handles an annual demand for 95 million room-nights with an economic value approaching $18 billion. Frontier’s investment will support expansion of sales, marketing and customer support resources together with further enhancement of the company’s on-demand solutions.
“Lanyon has consistently experienced exceptional growth. This can be attributed to the value delivered by our solutions making us a trusted and independent partner to a growing number of hotels and corporations seeking improved hospitality procurement processes,” said Todd E. Tyler, President and Chief Executive Officer of Lanyon. “With this funding from Frontier Capital we will be able to accelerate the introduction of additional solutions and build out service delivery as we increase the number of our customers.”
“We have been very impressed with the evolution of Lanyon as it has brought innovative solutions to both suppliers and buyers of travel,” said Michael Ramich, partner of Frontier Capital. “Now more than ever, the travel and hospitality industries are demanding the efficiency and transparency facilitated by Lanyon solutions. We are pleased to partner with Lanyon in accelerating the company’s growth trajectory.”
About Lanyon
For 25 years, Lanyon has been delivering exceptional content distribution technologies to the global travel industry. Today, Lanyon facilitates the world’s largest online hospitality marketplace as the recognized leader in content, bid and spend management solutions for the global travel industry. Established in 1984 and headquartered in Dallas, Texas, Lanyon serves the needs of many of the world’s leading hotel companies, multinational corporations, travel management firms, consortia, car rental companies and airlines including over 90,000 hotels worldwide. For more information, visit us online at www.lanyon.com
About Frontier Capital
Frontier Capital was founded in 1999 as a private equity firm focused on providing capital and support to technology enabled business services companies. Frontier invests in high growth companies with a proven solution in the marketplace that can benefit from capital to accelerate growth, fund acquisitions, or generate shareholder liquidity. The firm is based in Charlotte, NC, and currently has $160 million under management. For more information on Frontier Capital, visit FrontierCapital.com
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