Business Travel Startup TripActions Raises $51 Million in Round Led by Lightspeed
The California-based company develops a business travel management service aimed at saving companies money on their employees’ work-related trips
12:0008.03.18
Palo Alto, California-based business travel startup TripActions Inc. has raised $51 million in a Series B investment round led by venture capital firm Lightspeed Management Company LLC, the company announced Wednesday. Zeev Ventures LLC also participated in the round.
Flight (illustration). Photo: Shutterstock
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Founded in 2015 by Israeli-expats Ariel Cohen and Ilan Twig, TripActions develops a business travel management service aimed at saving companies money on their employees’ work-related trips. The system encourages employees to make economic decisions when planning their trips by rewarding actual savings with gift certificates.
Flight (illustration). Photo: Shutterstock In addition to the online service, the company also offers around-the-clock customer support that reaches out to travelers in cases when further assistance is needed, such as flight delays or cancellations.
TripActions has raised $78 million to date.
The company plans to use the recent funding to further develop its technology and expand its market reach.
Lightspeed is a California-headquartered early stage venture capital company, founded in 2000, with additional offices in Tel Aviv, China, and India. The company manages $4 billion in committed capital. Founded in 2017 by Israeli-expat angel investor Oren Zeev, Zeev Ventures is based in Palo Alto. Mr. Zeev’s current and past portfolio companies include Palo Alto-based home remodeling and design company Houzz Inc., Israel and California-based automated payments startup Tipalti Solutions Ltd. and Audible Inc. acquired by Amazon in 2008.
