TripActions, a Palo Alto, CA-based corporate travel management company, raised $154m in Series C funding.
The round was led by Andreessen Horowitz, with participation from previous investors Lightspeed Venture Partners, Zeev Ventures and SGVC. In conjunction with the funding, Andreessen Horowitz’ Ben Horowitz will be joining the company’s Board of Directors.
Since its founding in 2015, TripActions has raised a total of $232M in funding.
Co-founded in 2015 by Ariel Cohen, CEO, and Ilan Twig, CTO, TripActions provides a business travel platform that allows travelers to get personalized results to book a trip, a wide selection of flights, hotels and transportation, and 24/7 support.
It is used by companies such as Dropbox, Lyft, Sara Lee Frozen Bakery, the ACLU and Tuft and Needle, among others.
The new capital will be used for the development of the company’s product and service offerings globally to further accelerate enterprise adoption, including:
– Expanding TripActions’ R&D team globally with a large engineering and data science hub in the company’s EMEA headquarters in Amsterdam;
– Applying innovative technology solutions to corporate travel, including scaling out the company’s proprietary support infrastructure which powers their in-house global team of travel agents;
– Growing adoption of its new suite of service offerings including TripActions Luxe, a VIP program for executive travel needs; the Meetings & Event solution for group travel; consulting services to build & manage supplier programs for customers; and the Guest Invite Portal which allows HR & recruiting teams to reduce the time spent coordinating candidate travel.