Hopper raises $70 million

Travel booking app Hopper has raised $70 million in a new round of funding led by Westcap with participation from Inovia, BDC, OMERS Ventures, Investissement Quebec, and  Caisse de Depot et Placement du Quebec.

According to The Logic, the round was closed in mid-April, shortly after Hopper announced layoffs as a result of COVID-19. The company declined to comment on the size of the layoffs, but according to LinkedIn, Hopper’s workforce shrunk from 420 in March to 321 in May.

Established in 2007, the Montreal/Boston-based company made its way into insurance last year when it began offering travel insurance via Aon on US-origin bookings. Before this funding, Hopper had disclosed raising about $160 million.