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] Less than six months later, Travelperk announced the acquisition of Germany expense software company, Yokoy, and an additional series E fundraise of $200M at a $2.7B valuation. [29]
Partnerships & Marketplace
TravelPerk partners with a wide range of businesses (Divvy, [30] [31] BambooHR, [32] Spendesk, [33] Ramp, [34] Pleo [35] and more) that span a variety of industries (HR, expense management, event management, health and wellness, sustainability, etc.).
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