Funds continue to flow in for high-flying business travel platform TripActions, which landed more funding and boosted its total value in the process.
Backed by Andreessen Horowitz (which led the round), Zeev Ventures, Lightspeed Venture Partners and Group 11, TripActions landed $250 million in Series D funding. The startup’s valuation is now $4 billion.
TripActions has raised more than $481 million in funding in six rounds to date, according to Crunchbase.
TripActions plans to use its new funds to expand its corporate travel experience improvements and take them around the world.
“When we started TripActions, we put the traveler first, working to solve all of the pains of work travel that we ourselves experienced as road warriors,” said Ariel Cohen, TripActions co-founder & CEO, in a statement. “We wanted to give enterprises and their travelers a far better option than the status quo and hopelessness of using the same outdated and frustrating corporate travel platforms they’d always used. Thanks to our investors, partners and suppliers who believed in our vision; our employees who passionately put the user first in everything they’ve done; and most importantly our customers who have trusted us with their travel programs.”
TripActions controls more than $1.1 billion in annual travel budgets, serving more than 2,000 customers worldwide. It’s customers include Lyft, SaraLee, WeWork and SurveyMonkeuy.
“We’re proud to have TripActions—a platform loved by enterprises and their employees alike—as a cornerstone investment in our new late stage venture fund,” said lead investor Andreessen Horowitz general partner, David George. “With its combination of the most advanced global infrastructure and unmatched customer support, it’s no wonder TripActions has achieved hyper growth while maintaining a remarkable 93% traveler satisfaction.”