Becoming the Default for Business Travel by Putting the User First
TripActions raises $250 million in Series D funding at a $4 billion valuation to solve antiquated product, service and experience of Corporate Travel Management industry
When we started TripActions, we put the traveler first, working to solve all of the pains of work travel that we experienced as road warriors. From frustrating booking tools that lagged far behind consumer sites to feeling left stranded when a delay or missed connection occurred, business travel was a pain.
And not just for travelers; for enterprises as well. With so many employees going “rogue” to find the best deals and book travel to meet their individual needs, organizations suffered from a lack of visibility and control over travel spend.
We wanted to give enterprises and their travelers a far better option than the status quo and hopelessness of using the same outdated and frustrating corporate travel platforms they’d always used.
We believed we could change the industry by building an end-to-end business travel platform that was the best in the world, underpinned by the best product, service and experience. To achieve that vision, we knew we needed to create a modern booking tool that was incredibly easy to use; deliver unrivaled choice in inventory; build in AI to make the experience better and smarter every time; and provide global, proactive 24/7 365 live human support to help when the unexpected occurred. By creating a product, service and experience users loved, we’d help solve the enterprise challenges around travel spend visibility, compliance and control.
But we also knew we needed to bring new innovations to market that would advance corporate travel management for the enterprise in support of finance, HR, operations and travel program leaders. From creating a live traveler map that enables organizations to fulfill their duty of care commitments to launching our VIP Luxe service that provides expanded support for executives and their EAs, and creating a Corporate Meetings and Events offering, we built a “one stop shop” corporate travel management platform for the enterprise.
As a result, TripActions is fast becoming the default for business travel.
We’ve been incredibly fortunate to have the support of a fantastic group of investors. Our Series D round was led by David George at Andreessen Horowitz (which also led our Series C round with Ben Horowitz joining our board at that time), and with continued support from Oren Zeev at Zeev Ventures, Arif Janmohamed at Lightspeed Venture Partners, and Dovi Frances at Group 11 (fka SGVC)—all of whom have been with us since the very beginning in every funding round. They all believed in our vision and helped us scale into a global enterprise organization that is trusted to manage more than $1.1 billion in travel budget annually for more than 2,000 customers of all sizes and industries around the world.
Similarly, our partners and suppliers saw how we were different from other Travel Management Companies (TMCs) by putting the traveler first. We were and remain fortunate that they joined us on this incredible journey. Without their support, we wouldn’t have been able to fulfill our mission and deliver on our vision. They each have and continue to partner with us to drive innovation that delights our joint customers—like launching the Next Gen Storefront (NGS) and bringing New Distribution Capabilities (NDC) to life on our platform as just two examples.
As founders, we wanted to create a company where we’d both be proud and happy to work, with a mission-driven culture focused on the user—all of them, all the time. This mantra has continued throughout our business over the last four years—along with challenging the status quo, always raising the bar, focusing on what really matters, just saying it (thoughtfully), and always staying humble. Living our values has helped us stay true to our roots as we’ve grown to more than 700 employees in nine offices around the world today.
We’re incredibly proud of the TripActions team. The talent at TripActions is second to none. Our people are the smartest, most passionate and talented people we’ve ever had the pleasure of working with. They live our mission to deliver the best experience in business travel every day, in every decision. It’s inspiring, invigorating and incredibly rewarding to be surrounded by such amazing people.
And speaking of amazing people, our customers and users have been tremendous advocates from day one, openly sharing their needs, insights and feedback to help us continually raise the bar. Through it all, it remains an honor and a privilege to earn our customers’ and users’ trust every day by helping them turn travel into a strategic lever for growth.
We are both appreciative and humbled to have such an amazing community supporting TripActions. Thanks to our investors, partners and suppliers who believed in our vision, our employees who passionately put the user first in everything they’ve done, and most importantly our customers and users who have trusted us with their travel programs.
Here’s a bit more on today’s announcement and comments from some of our investors:
“We’re proud to have TripActions—a platform loved by enterprises and their employees alike—as a cornerstone investment in our new late stage venture fund,” said David George, general partner, a16z. “With its combination of the most advanced global infrastructure and unmatched customer support, it’s no wonder TripActions has achieved hyper growth while maintaining a remarkable 93% traveler satisfaction. If an organization isn’t on TripActions, it will be soon as there’s nothing that comes close in business travel.”
"I’m impressed by their mission-driven culture, and how every decision they make puts the customer at the center,” said Oren Zeev, founder, Zeev Ventures. “Their passion for the user experience comes to life in their rapid pace of innovation, and reflects in how happy their customers are. No other corporate travel management platform compares."
“You rarely see a company as unique as TripActions walk through your door,” said Arif Janmohamed, partner at Lightspeed Venture Partners. “Since we first met and invested in Ariel and Ilan’s vision four years ago, they’ve been redefining business travel, and TripActions has since become the default for business travel.”
Thank you and safe travels,
Co-founder & CEO
Co-founder and CTO