6 months ago
 

TripActions raises $14.6 million to take on the corporate travel segment

Business travel management startup TripActions has raised $14.6 million in Series A funding.

The San-Francisco based company, which comes out of beta today, is looking to reward business travellers for keeping an eye on spend.

The funding is led by Oren Zeev of Zeev Ventures with Arif Janmohamed of Lightspeed Venture Partners also participating in the round.

The investment will go into developing the TripActions platform and expanding its presence in the business travel sector.

According to a statement, TripActions already has 70 customers and it claims it can save companies 30% on annual travel spend.

Business travellers are rewarded for being cost conscious with TripBucks in the shape of gift vouchers, upgrades and travel credits.

The TripActions’ platform enables travellers to book their trips via smartphone or PC and also includes features such as direct booking of ground transportation.

It also provides US-based support for travellers and enables travel managers and finance directors to manage the travel program with savings and spend information on flights, hotels and car-hire.

The startup was founded in 2015 by StreamOnce co-founders Ariel Cohen and Ilan Twig.

Zeev says TripActions is offering a “unique and innovative approach” to corporate travel and describes the segment as “ready for disruption.”

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About the Writer :: Linda Fox

Linda Fox is deputy editor for Tnooz. For the past eight years 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.

 

Comments

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  1. Avi Meir, TravelPerk

    Congrats to Ariel and Ilan – we at TravelPerk are super thrilled to see the increased interest in the revolution that we’re leading to fix business travel. It’s time for better products to replace the old, clanky tools & processes that have ruled this industry for way too long.

     
    • Ariel Cohen, Co-Founder and CEO of TripActions

      Thank you, Avi. We share the same vision for the business travel industry.

       
  2. Valentin Dombrovky

    “Business travellers are rewarded for being cost conscious with TripBucks in the shape of gift vouchers, upgrades and travel credits”.

    So, there are competing with Jay Walker’s Upside basically? (And other companies with similar models)

     
    • Ariel Cohen, Co-Founder and CEO of TripActions

      Valentin,

      Thanks for starting the conversation. While Upside and TripActions both believe in rewarding employees for cost conscious travel decisions, our platform is built to solve many problems that companies face from a travel management perspective. We focus on choice, by providing users with a large inventory of travel options to incentive cost effective decisions. Meanwhile, Upside uses travel packages to encourage similar behavior.

      To us, it’s more than just incentives, rather a complete end to end solution that improves the way a company operates their travel program. We would be happy to discuss further and even provide a first hand look into the platform, connect with us directly here – http://tripactions.com/contact/.

       
 
 

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