 Navan logo | |
| Company type | Private |
|---|---|
| Industry | Corporate Travel Management |
| Founded | March, 2015 |
| Founders |
|
| Headquarters | Palo Alto, California, United States |
Area served | Worldwide |
Key people |
|
Number of employees | 3,000 [1] (2022) |
| Website | navan.com |
Navan (formerly TripActions) is an online travel management, corporate card and expense management company. [2] [3]
The Palo Alto, California –based travel company, TripActions Inc., was founded in May 2015 by Ariel Cohen and Ilan Twig (also the founders of StreamOnce, acquired by Jive Software). [4]
In January 2016, TripActions received $14.6 million series A round led by Oren Zeev Ventures and Lightspeed Venture Partners with participation from Group 11. The company officially launched out of stealth mode and announced their funding in January 2017. [5] In October 2017, the company announced that they had raised an additional $12.5 million led by Lightspeed Venture Partners with participation from Zeev Ventures and Group 11. [6]
The company moved in June 2017 from Menlo Park, California, to its headquarters in Palo Alto. [7]
In March 2018, the company announced a $51 million Series B round led by the same two investors with participation from prior investors. [7]
In July 2018, TripActions announced its international expansion to Europe with an office in London and their European headquarters in Amsterdam. [2] They shared potential plans to expand to the Asia-Pacific region to scale their customer support infrastructure. [8]
In November 2018, the company announced a valuation north of $1 billion and a $154 million Series C funding round led by new investor Andreessen Horowitz, with participation from repeat investors Lightspeed Venture Partners, Zeev Ventures, and Group 11. [9] Ben Horowitz joined the Board of Directors.
In February 2019, the company announced its new flight storefront in alignment with major airline partners and industry association ATPCO. [10] The storefront includes branding and imagery of cabin classes and amenities for each airline. It works for domestic and international flights, including international-to-international itineraries, and for flights on joint venture partners of American, Delta and United. [11]
Later in February 2019, TripActions was recognized as one of Fast Company's Most Innovative Companies in Travel for 2019. [12]
In June 2019, the company announced its NDC-enabled platform in partnership with United Airlines. [13] At the same time, TripActions raised a $250 million Series D funding round from Andreessen Horowitz, Zeev Ventures, Lightspeed Venture Partners and Group 11. The total valuation of the company reached $4 billion. [14]
In September 2019, the company announced its carbon impact initiative through providing customers visibility into the emission output of their travel programs. [15] In the same month, TripActions was recognized in the Top 20 of the Forbes Cloud 100 award. [16]
In November 2019, the company announced that it had enabled an NDC-enabled direct connection to the Lufthansa Group. [17]
In February 2020, the companylaunched TripActions Liquid, a payment, expense and reconciliation technology integrated into its core platform. [18] Alongside that announcement, the company announced the security of $500 million on credit to fuel the platform. [19]
In June 2020, it raised $125 million in debt financing. [20]
In October 2020, it expanded the TripActions Liquid product by adding broader expense capabilities. [21]
In January 2021, TripActions raised a $155 million Series E round of funding. [22]
In May 2021, the company announced that it had acquired UK corporate travel management specialist Reed & Mackay. [23]
In October 2021, TripActions raised a $275 million Series F round of funding with a valuation near $7.25 billion. It reported having 1500 employees. [24]
In February 2022, TripActions acquired Comtravo, a German corporate travel company with 2,500 clients and 250 employees. [25]
In February 2023, TripActions rebranded to Navan, bringing together its offerings into a travel and expense services app. The palindrome name Navan has roots in the words "navigate" and "avant" to mean "navigating forward". [26] [27]
In April 2023, Navan announced its agreement to acquire Tripeur, a Bangalore-based modern travel and expense management company, expanding Navan Group’s presence in India. The acquisition marked the fifth purchase in two years. [28]
As rumors mounted in June 2024 that Navan was pursuing an IPO, they appointed former NYSE exec, Amy Butte, as their CFO. [29]
In 2024, Forbes recognized Navan in their Cloud100 companies for 2024. [30]
Users can access mobile apps for Uber and Lyft in their mobile travel itineraries while traveling. [31]
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