2 weeks ago
 

TripActions closes on Series A round, partners with two powerhouses for hotel inventory

TripActions, which bills itself as a “modern” corporate travel management company, disclosed that it completed a $12.5 million Series A round of funding in April.

The sum brings its total amount of funding to $27 million.

The round was led by Arif Janmohamed of Lightspeed Venture Partners, who also joined TripActions’ board, with participation from Oren Zeev of Zeev Ventures.

Both have supported the company from the start.

TripActions just scored another pair of significant deals with the Priceline Group and Expedia Inc. that will provide access to the inventory of priceline.com; its Asian sister company, agoda.com, and booking.com, the European-based accommodations powerhouse, and of expedia.com and hotels.com.

Together, the two groups will provide a “massive” amount of inventory, originally aggregated for the leisure market, for TripActions’ corporate customers.

In addition, TripActions has an existing relationship with Sabre.

The company says it has achieved a 97% satisfaction rate in an industry that has struggled to modernize.

It has invested significantly in designing and executing a 24/7 customer support program that incorporates the cutting-edge elements of service.

More than 60% of traveler interactions are handled via a chat service that uses big data and artificial intelligence. That saves time for travelers on the move, the company said, but it’s not just about bells and whistles: TripActions’ customers save an average of 27% on their travel expenditures.

Traveling employees are also lured into compliance with an incentive program that allows them to redeem rewards for Amazon gift cards, personal vacations or upgrades on a future business trip.

The young company – it was founded in March 2015 – has young leadership and staff. Its customers are young as well and share TripActions’ mindset when it comes to technology.

The latest additions to the client roster are a case in point.

The founders of OpenGov saw dedicated public servants struggle with outdated technology and decided to create cloud-based solutions to power more effective and open government.

Box is a cloud content management and file-sharing service for businesses that uses a “freemium” business model to provide cloud storage and file hosting.

Bowers & Wilkins is a British company that produces audio equipment, primarily for the music industry.

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Michele McDonald

About the Writer :: Michele McDonald

Michele McDonald is a senior editor at Tnooz. She has worked as a journalist covering the travel industry for more than two decades.

She is a former managing editor of Travel Weekly (US) and former editor-in-chief of Travel Distribution Report.

In 2002, she founded Travel Technology Update, a newsletter for distribution professionals. She remains editor and publisher of Travel Technology Update. She also contributes to Air Transport World.

 

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