Today Montreal-based travel booking app Hopper announced US $100 million in Series D financing led by OMERS Ventures.
Existing investors Caisse de dépôt et placement du Québec (CDPQ), Accomplice, Brightspark Ventures, Investissement Québec, BDC Capital IT Venture Fund, and new investor Citi Ventures participated in the round, bringing the company’s total funding to date to US $184 million.
The new funding will be used to expand Hopper’s market presence globally and continue its AI development.
“Travel is a $1.3 trillion industry. Online travel is $662 billion, with mobile comprising $264 billion of that,” said Frederic Lalonde, CEO and co-founder of Hopper.
“As the world continues to shift from web to mobile — and to apps in particular — an estimated 70-90% of time spent online is actually taking place on mobile. Of that, 92% of all mobile time is spent in apps — and not mobile web. Hopper is in a unique position to become the go-to way to book travel.”