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Business Travel Startup TripActions Raises $154 Million at $1 Billion valuation

TripActions offers a travel booking and management service for companies, designed to help business travelers book hotels, flights, and other related services at a discounted price

Corporate travel startup has raised $154 million in a Series C funding round at $1 Billion valuation, led by Andreessen Horowitz, the company announced Thursday.

Ben Horowitz of the venture capital firm Andreessen Horowitz and The New York Times bestselling author of The Hard Thing About Hard Things, will join the company’s board of directors

This round comes at the heels of a $51 million Series B earlier this year. The company has raised a total $236 million to date.

Palo Alto, California-based company offers a travel booking and management service for companies, designed to help corporate travelers book hotels, flights, and other related services at a discounted price.

Founded in 2015 by Israelis Ariel Cohen and Ilan Twig, who previously co-founded business collaboration software StreamOnce, that was acquired in 2013 by Jive Software for about $10 million.

Two Israeli investors, Dov Frances, of venture firm SGVC, and Oren Zeev, of Zeev Ventures LLC are the early investors who also participated in all rounds.

The company has expanded its platform adding TripActions Luxe, a VIP program for executive travelers; TripActions’ Guest Invite Portal, designed for HR and recruiting teams; and TripActions’ in-house Meetings & Event solution for group travel.

The company operates seven offices in London, Amsterdam, and Sydney. Lyft, Dropbox, and Sara Lee Frozen Bakery among its customers, according to the company.

“Something is really happening in the industry; something bigger than us,” Cohen told TechCrunch. “Different startups are identifying the opportunity here and the fact that companies want to make sure their employees are happy while they are on the go, that’s why you see investments in companies like Brex and like TripActions.”

“It’s about time that employees really feel great while they are booking their trip, while they are on the go and while they are doing their expenses at the end.”

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