TRIPACTIONS’ ALL-IN-ONE PLATFORM INCREASES VALUATION TO $9.2B

TripActions, the all-in-one travel, corporate card, and expense management company, announced its Series G financing at a post-money valuation of $9.2 billion. The raise, a combination of $154 million in equity from new and existing financial investors as well as a $150 million structured capital transaction led by Coatue, marks the third financing round for the company in three years. Since early 2020, TripActions has recorded a 2x-plus valuation increase, validating the company’s choice to double down on travel and payment innovation during the peak of the pandemic.

“TripActions is building the best travel and expense management solution in the world. The recent funding round shows not only the strength of its business model but also the value to companies looking to increase savings and enable responsible spending,”

“TripActions is proof that empowering users through relentless innovation and automation is the future of travel.”

                                                                 TripActions CEO and co-founder, Ariel Cohen.

Savings features including dynamic travel policies, real-time reporting with benchmark data, traveler incentive programs, and Liquid’s integrated spend controls have helped businesses maintain their best operations without allowing costs to soar in tandem with the company’s expansion. Employees are free to concentrate on their work rather than paperwork thanks to automated features including expenditure reporting, itemization, and reconciliation.

“From the start, TripActions revolutionized business travel by automating, personalizing, and professionalizing the experience,”

“Despite a pandemic that brought business travel to a standstill, the company doubled down on innovation and now those bets are paying off in a big way.”

                            Ben Horowitz, cofounder and general partner at Andreessen Horowitz.

Joining the TripActions Board of Directors is Sandesh Patnam; Dan Rose, Chairman at Coatue Ventures, will additionally join the Board as an Observer.

“TripActions is a complete travel and expense platform,”

“As the market shifts, companies will look to platforms that provide real value by increasing productivity and decreasing costs. TripActions’ growth over the past two years has proven the strength of its user-first, online approach and it is now well-positioned to capture this market. I am excited to join them on this journey.”

                                                              TripActions Board of Directors, Sandesh Patnam.

The funding will be used to speed up the TripActions Group’s quick international expansion, which has already seen it acquire travel management firms Reed & Mackay, Comtravo, and Resia in the last year. It has also launched TripActions Liquid in Europe and opened offices in Portugal, Germany, France, and the UK. More than 2,500 people will be employed by TripActions by the end of July 2022, spread over almost 60 global offices.