Full Speed Ahead at TripActions
At TripActions, our mission is to take the stress out of business travel by finally mending the disconnect between a company’s need to save costs and a traveler’s desire for convenience. In an industry that has struggled to modernize, we saw the opportunity to build an end-to-end travel management solution that uses cutting-edge technology and world-class service to save companies money and empower employees with abundant choice and genuinely helpful support while on the road.
The past year at TripActions has been one of incredible momentum as we’ve added more partners to the TripActions family and grown 18x year-over-year. We know we wouldn’t have gotten here without our customers and the partners who’ve joined our vision and who continue to help us evolve and improve every day. We’re grateful, and want to take a moment to recognize and share all we have to celebrate.
The TripActions Team
Most importantly, we’re proud that our solution is delivering real value for the businesses who choose TripActions—our customers are saving up to 34% on their hotel bookings spend. Plus, with the help of their feedback, we’re constantly improving our solution and have earned a customer retention rate of over 99%. Happily, we’ve also seen the TripActions community continue to grow, and have recently welcomed great companies like Box, OpenGov, and Bowers & Wilkins as new customers.
Today, we’re thrilled to share the news that we closed an additional $12.5 million in funding in April led by Arif Janmohamed of Lightspeed Venture Partners with participation from Oren Zeev of Zeev Ventures to complete our Series A round. Both have been outstanding partners from the start, sharing our vision and participating in each of our rounds with $27.1M raised to date. It’s also our pleasure to announce that Arif has joined our Board of Directors. He brings to TripActions extensive experience as a successful investor in enterprise solutions companies, and we’re looking forward to our continued partnership bringing much-needed innovation to the $1.3 trillion global business travel industry.
This new funding will help us further build out our growing team so that we can continue to deliver the high-quality experience our growing base of customers and travelers deserve. To that end, we’re excited to officially announce our global partnerships with Expedia and Priceline. These partnerships give our travelers even more choice, building upon our existing relationship with Sabre and adding to our incredibly large inventory that now also includes expedia.com, hotels.com, priceline.com, agoda.com and booking.com.
Search results for a trip to New York featuring our TripActions Rewards Program for hotel bookings and large inventory of flights, hotel and car rentals
Providing travelers with a best-in-class experience is what drives us at TripActions. It’s why we’ve invested significantly in designing and executing a 24/7 proactive customer support program featuring a chat service that uses big data and artificial intelligence to save travelers time while on-the-go. More than 60% of traveler interactions with our team of experts are handled via chat and our travelers have humbled us with a 97% satisfaction rate.
Our 24/7 proactive chat service helps take the pain out of work travel
These successes aren’t a finish line for us. Rather, they’re indicators of momentum, keeping us focused on the progress ahead. With more customers and partners joining in our vision every day, we look forward to even more innovation at TripActions. We’ll continue to refine our hotel incentive program, grow our amazing inventory and scale our intuitive mobile apps to deliver real savings to companies and a great traveler experience. Stay tuned, as we’ll have more exciting news to share soon.
Posted by: Ariel Cohen, Co-Founder & CEO and Ilan Twig, Co-Founder & CTO