TripActions books in $51 million in funding for corporate travel push

TripActions, a platform for business travel has raised $51 million in Series B funding.

The round was led by Arif Janmohamed, partner at Lightspeed Venture Partners while Oren Zeev of Zeev Ventures also participated.

The company says it continues to see rapid adoption of its “next generation” corporate travel service which enables bookings, supports travellers when they’re on the go and provides visibility on travel spend to corporate customers.

TripActions, which came out of beta just over a year ago, (Startup pitch here), aims to make it easier for corporate travellers to book trips and incentivise them to make savings.

The company says it has doubled the number of customers and travellers under management every quarter with bookings increasing 12-fold in 2017.

TripActions claims it has seen 97% traveller adoption of TripActions and that its customers see an average savings of 27% on travel spend.

The startup has so far raised just under $80 million with $14.6 in Series A announced as the company came out of beta last year and a further $12.5 later last year.

TripActions plans to use the funding to further develop its technology platform as well as build on its existing presence.

Ariel Cohen, CEO and co-founder says:

“The current system for business travel is severely broken. No one has started from the point of view of the road warrior and put them first when building a travel solution. We’re fixing that.  Every decision we make puts the needs of the traveler first.  In order to deliver outstanding service to our travelers and customers, we need to build custom technology to reinvent infrastructure that hasn’t been updated in decades.”

Image by Alvin Mahmudov for Unsplash

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About the Writer :: Linda Fox

Linda is Managing Editor for tnooz. For the past decade, she has worked as a freelance journalist across a range of B2B titles including Travolution, ABTA Magazine, Travelmole and the Business Travel Magazine. In this time she has also undertaken corporate projects for a number of high profile travel technology, travel management, and research companies. Prior to her freelance career, she covered hotels and technology news for Travel Trade Gazette for seven years. Linda joined TTG from Caterer & Hotelkeeper where she worked on the features desk for more than five years.

 

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