Rocketrip, New York City-based travel management platform for companies, raised $2.6m in Series A funding.
The round was led by Canaan Partners with participation from Genacast Ventures and other unnamed angel investors.
The company intends to use the funds to accelerate software and product development and to build out sales and client services.
Led by Dan Ruch, Founder & CEO, and Gillian Tee, Co-Founder & Head of Product and Technology, Rocketrip provides companies with a platform to save money on travel expenses by rewarding employee cost-saving behavior. The company has developed algorithms that integrate a company’s travel policy with real-time trip pricing and availability to create a personalized “Smart Budget” for each trip. Then, employees are rewarded for booking under budget by sharing a percentage of the savings in the form of cash and gift cards.
The platform also provides employers with insights and analytics on spending, savings and employee travel behavior to optimize their travel policy and rewards program.
FinSMEs
10/02/2014