Monday, January 7, 2013
CED Member Frontier Capital Exits Lanyon
CED Member Frontier Capital is pleased to announce the successful exit of its investment in Lanyon, Inc., the leading provider of SaaS-based software solutions for the hospitality industry.
Headquartered in Dallas, TX, Lanyon provides market-leading software-as-a-service (SaaS) content and spend management solutions for corporations, hotels and travel intermediaries in the global hospitality industry. The company was acquired by Vista Equity Partners.
Frontier provided Lanyon with $10 million of growth equity in November 2009. The investment supported the company’s expansion of sales, marketing and customer support resources, further enhancement of the company’s on-demand solutions, and partial liquidity for founders and shareholders. Lanyon now serves over 725 corporate clients and 340 hotel companies, representing more than 425 hotel brands and 93,000 hotel properties. Lanyon’s customer base includes 70% of the Corporate Travel 100, 50% of the Global 500, and 70% of the world’s hotel brands. The transaction closed on December 27, 2012.