Corporate travel startup TripActions raises USD 275 mn, valued at USD 7.25 bn, Travel News, ET TravelWorld

Corporate travel startup TripActions raises USD 275 mn, valued at USD 7.25 bn
US corporate travel and expense tech startup TripActions on Wednesday said it raised USD 275 million at a valuation of USD 7.25 billion, its second major fund raising event announced this year.

TripActions made a strong comeback from a sharp downturn in business due to the Coronavirus pandemic last year that forced it to lay off a quarter of its staff. It has raised USD 780 million over the course of the pandemic, according to the company. The latest round was led by San Francisco-based venture capital firm Greenoaks.

Searching for flights on Google just got ‘greener’. Users can search flights by filtering on the basis of emissions, much like they can by price. Flights with emissions below the median get highlighted in green.

TripActions said that it more than doubled its travel budget under management, the amount of travel companies book through TripActions, between February last year to the end of July this year.TripActions competes with American Express Global Business Travel and Concur Travel. Last year the company launched a credit card called TripActions Liquid and built an expenses platform that makes it possible for employees to never file an expense report again.

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