TravelBank, a San Francisco, CA-based travel, expense and rewards app for business, raised over $25m in Series B funding.
The round, which brings total funding to just over $35M, was led by DCM Ventures with participation from Propel Venture Partners, DHVC (Danhua Capital), New Enterprise Associetes, Accel, and Silicon Valley Bank. In conjunction with the funding, DCM, led by co-founder and general partner David Chao, will receive one seat on the TravelBank board.
The company intends to use the funds to expand the team and continue product development.
Launched in October 2016 by Duke Chung, CEO and co-founder, TravelBank allows users to book flights on more than 200 airlines, including all major U.S. and international carriers. With Auto Rewards, users will see flights marked with a rewards points value when they book. They can book first, earn rewards when they save, and then expense their purchases later.
Since launch, the company has processed millions of dollars of expenses with more than 800 companies spanning nearly every industry using it.
TravelBank now has 30 employees.