According to CNBC reports, Travelperk, a company -based corporate travel platform, has secured a $ 200 million dollar and raised its valuation to $ 2.7 billion. Investment rounds included participation from Atomico, EQT, and Noteus partners together with existing supporters such as SoftBank. This made a big leap from the $ 14 billion rating of $ 14 billion in January 2024.
SoftBank’s supported TravelPerpk plans to use funds to promote growth, strengthen the existence of the United States, and focus on AI and technology to strengthen product provision.
In addition to financing, Travelperk has also announced that it has acquired Yokoy, a Swiss expenditure management platform, integrates financial services into platforms, and has created a seamless travel and expense management experience. did.
With this acquisition, Yokoy’s investor Sequoia Capital will be added to the Travelperk cap table. Existing investors such as General Catalyst, Kinnevik, SoftBank Vision Fund, and Blackstone continue to support the company.
Travelperk, established by Avi Meir and Javier Suarez in 2015, has changed its business management method. The platform has been simplified since 10 years ago, simplifying the travel management of hundreds of thousands of travelers from major companies such as Uber and Transferwise, reducing travel planning from a few hours to 10 minutes. We supported reducing annual travel expenses by more than 20 %.
From COVID PANDEMIC’s struggle to $ 2.7 billion
Travelperk faced a major challenge during COVID-19 pandemic, and his profits have plummeted due to his business trip in 2020 and 2021. Nevertheless, the company has strongly opposed, and the profit is now five times higher than the Covid level.
“Why are we doing very well now because you had to be strong? You need to have a good foundation, you have to be poor. I was, “said Travelperk Jean-Christophe Taunay-Bucalo to CNBC.
Investors trust in resilience markets
Atomiko’s partner Hillary Ball emphasized the $ 1.5 trillion dollar in the 2023 corporate travel market and emphasized the increase of 6 % from 2019. She emphasized the importance of this sector in order to prioritize the efficient travel management of business.
The attraction of Travelperk is to deal with what EQT’s Carolina Brochado calls the “not managed” market. Many small and medium -sized enterprises still depend on fragmented tools such as Booking.com and Expedia. “This is a $ 200 billion market in the United States and Europe, and about half of it has not been managed,” she pointed out.
Focusing on longevity, not IPO
Despite the rapid growth of 1,500 employees, Travelperk is not a hurry to the IPO, but focuses on long -term sustainability.
“There is no plan in the short term,” said Tauna Bucaro. “We want to be here 100 years later. For high -tech companies, we have this almost unusually long -term view. As a result, the way we see the world is a little different. We I do not want to go out after doing these quick things. “
AI innovation and YOKOY advantage
With the acquisition of Yokoy, a powerful AI team has been led by Travelperk folding, and Yokoy’s Cto Devis Lussi has added his expertise since his era in CERN. Travelperk regards AI as an important tool for improving the platform, but is not very worried about the rise of “Agents” AI systems like Openai operators. “I will test everything. If it works, we will hold it, otherwise we will go ahead,” said Tauna Bucaro.
The ability of TravelPerk’s adaptation, innovation, and expansion has solidified as a leader in corporate travel management, and has become a company that views the future of this industry.
Barcelona -based startup raised $ 44 million with Series C funds and covers TRAVELPERK in 2018 to work in inefficient efficiency in the $ 1.3 trillion business travel market.
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