TripActions, the Palo Alto, CA-based travel, corporate card, and expense management company, raised $304m in funding.
The funding included:
- $154m in Series G financing at a post-money valuation of $9.2 billion from new and existing financial investors, as well as
- $150m structured capital transaction led by Coatue.
Led by CEO Ariel Cohenm, TripActions provides a travel, corporate card, and expense management solution, providing customers around the globe with visibility and control over spend. Used by travel managers and finance teams, TripActions and TripActions Liquid leverage real-time data to help companies keep traveling employees safe, reduce spend, and drive productivity. or to join the TripActions team, visit www.tripactions.com/careers.
The company intends to use the funds to accelerate global expansion, which in the past year includes the acquisitions of travel management companies Reed & Mackay, Comtravo, and Resia, as well as the launch of TripActions Liquid in Europe and office openings in Portugal, Germany, France, and the UK.
In conjunction with the funding, Sandesh Patnam is joining the TripActions Board of Directors; Dan Rose, Chairman at Coatue Ventures, will additionally join the Board as an Observer.
FinSMEs
12/10/2022