TravelPerk

Last updated
TravelPerk
Company type Private
Industry Corporate Travel Management
Founded2015
Founder
  • Avi Meir (CEO)
  • Javier Suarez
  • Ron Levin
Headquarters
Barcelona, Spain
Area served
Worldwide
Key people
  • Roy Hefer (CFO
  • JC Taunay-Bucalo(CRO)
  • Huw Slater (COO)
  • Ross McNairn (CPTO)
  • Sally Sourbron (CPO)
Number of employees
1000+ (2022)
Website www.travelperk.com

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]

Contents

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

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References

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