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Local Tech Wire

CHARLOTTE, N.C. – Private equity firm is throwing its financial backing behind Lanyon, a firm focused on software services for travel and hospitality industry clients/

, a 25-year-old firm that is based in Dallas, Texas, received $10 million for expansion from Frontier.

“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, a partner of Frontier Capital, in a statement. “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.”

Lanyon says its online marketplace for content, bid and spend management is the world’s largest for hospitality related firms.

The new funds will be used for expansion of sales, marketing and customer support efforts as well as technology improvements.

Frontier Capital has $160 million under management.