TravelPerk explained

TravelPerk
Type:Private
Industry:Corporate Travel Management
Foundation:2015
Location City:Barcelona, Spain
Area Served:Worldwide
Num Employees:1000+ (2022)

TravelPerk is a travel-management company that provides companies with a variety of travel- and expense-management services. The company is headquartered in Barcelona,[1] with business hubs in London, Birmingham,[2] Edinburgh,[3] Berlin, Chicago, Boston, and Miami. The company raised $409 million at the end of its Series D funding round in 2022, achieving unicorn status and a valuation of over $1 billion.[4]

History

TravelPerk was founded in 2015 by Avi Meir (founder of Hotel Ninjas, acquired by Booking.com), Javier Suarez, and Ron Levin.[5] [6] Their aim was to create an all-in-one platform that’s aimed at making business travel management easier and keeping travelers happy. Shortly after being founded, TravelPerk received a $7 million series A round led by Spark Capital.[7] In October 2018, the company raised a $21 million Series B round led by Target Global, Felix Capital, Spark Capital, Sunstone, and Amplo.[8] In July 2019, the company finalized a two-part, $104 million series C funding backed by Kinnevik, Partners of DST Global, Target Global, Felix Capital, Sunstone, and LocalGlobe.[9] [10] [11] [12] In 2020, due to constant changes in travel regulations and health/safety guidelines as a result of the pandemic, TravelPerk acquired Albatross API,[13] [14] a software company that developed TravelSafe API,[15] providing real-time health and safety information to travelers. In the same year, the company also launched an online marketplace,[16] where its customers can integrate partner products and services into their own platforms and workflows. In 2021, TravelPerk acquired NexTravel[17] [18] [19] (Silicon Valley), one of the biggest business travel platforms in the US, ClickTravel[20] [21] [22] (Birmingham), the leader in domestic business travel in the UK, and Susterra[23] [24] [25] (London), a corporate responsibility consultancy to propel TravelPerk’s sustainable travel to the next level. In the same year, the company raised $160 million in series D funding,[26] and in 2022, it raised an additional $115 million series D second round, unlocking unicorn status with a valuation of over $1 billion.[27]

In 2024, TravelPerk announced they had agreed to acquire a US-based competitor, AmTrav, and raised $135 million in debt financing from firms Blackstone and Blue Owl.[28]

Partnerships & Marketplace

TravelPerk partners with a wide range of businesses (Divvy,[29] [30] BambooHR,[31] Spendesk,[32] Ramp,[33] Pleo[34] and more) that span a variety of industries (HR, expense management, event management, health and wellness, sustainability, etc.).

See also

Notes and References

  1. Web site: The unicorn TravelPerk returns with new headquarters. Expansión. 9 June 2022 .
  2. Web site: Travelperk buys UK based ClickTravel in latest pandemic purchase . Techcrunch. 6 July 2021 .
  3. Web site: Travel management platform aims to add hundreds of jobs with Edinburgh hub opening . Scotsman.
  4. Web site: TravelPerk adds $115M to equity and debt Series D, discloses unicorn valuation . TechCrunch.
  5. Web site: How Travelperk Builds Better Tools for European Business Travelers . 23 May 2019 .
  6. Web site: "Business travel is on the rise - we've just experienced a delay": Interview with TravelPerk's co-founder and CEO Avi Meir . 11 June 2020 .
  7. Web site: TravelPerk continues growth spurt with $44 Million funding round .
  8. Web site: TravelPerk grabs $44M to take its pain-free SaaS for business travel global . 15 October 2018 .
  9. Web site: Barcelona-based business travel platform TravelPerk raises €53 million, bringing its Series C total to €92.5 million . 18 July 2019 .
  10. Web site: Travel Booking Startup TravelPerk Raises $60 Million . 24 July 2019 .
  11. Web site: TravelPerk is taking business places with new funding totalling its Series C round at $104 million . 18 July 2019 .
  12. Web site: TravelPerk closes a round of 53 million euro . 26 July 2019.
  13. Web site: TravelPerk acquires Albatross to boost risk-management capability .
  14. Web site: Barcelona's TravelPerk buys Albatross, an API for virus-related travel restrictions, to expand risk management offering . 9 July 2020 .
  15. Web site: TravelPerk launches an API for COVID-19 restrictions . 26 October 2020 .
  16. Web site: TravelPerk creates marketplace to offer additional services to corporate travelers .
  17. Web site: Is business travel back? TravelPerk acquires US rival NexTravel . 13 January 2021 .
  18. Web site: TravelPerk Acquires NexTravel to Grow U.S. Footprint .
  19. Web site: Business trip platform TravelPerk buys YC-backed rival NexTravel . 13 January 2021 .
  20. Web site: TravelPerk buys UK-based Click Travel in latest pandemic purchase . 6 July 2021 .
  21. Web site: TravelPerk acquires Click Travel .
  22. Web site: TravelPerk continues corporate travel roll-up with acquisition of Click Travel .
  23. Web site: TravelPerk acquires eco-friendly travel consultancy Susterra .
  24. Web site: Barcelona's TravelPerk makes another acquisition: Travel sustainability consultancy firm Susterra . 30 September 2021 .
  25. Web site: TravelPerk makes another acquisition .
  26. Web site: We got an exclusive look at the pitch deck business travel startup TravelPerk used to raise $160 million . .
  27. News: TravelPerk Hits $1.3 Billion Valuation as Business Trips Rebound . Bloomberg . 12 January 2022 .
  28. News: Browne . Ryan . 2024-06-18 . SoftBank-backed travel tech firm TravelPerk acquires U.S. rival and bags $135 million for expansion . CNBC . 2024-09-02.
  29. Web site: TravelPerk Partners to Offer to Divvy Clients Travel Services .
  30. Web site: TravelPerk partners with Divvy to bring best in class travel and expense experience to U.S. Business travelers .
  31. Web site: TravelPerk - BambooHR Marketplace | Your Favorite Integrated HR Apps .
  32. Web site: How modern CFOs easily optimize travel spending .
  33. Web site: Ramp TravelPerk Integration - TravelPerk Integrations with Ramp | Ramp .
  34. Web site: Pleo + TravelPerk = the smoothest business travel there is (Probably) .

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