TravelPerk, a London, UK-based business travel management platform, closed an additional $104m funding round.
The deal was led by SoftBank Vision Fund 2 with participation from existing investors including Kinnevik and Felix Capital. The round was an extension of the Series D-1 raised in January 2022, led by General Catalyst. Stephen Thorne, Investment Director for SoftBank Investment Advisers will join the TravelPerk Board of Directors.
The company intends to use the funds to increase investment into its platform, enhancing the customer experience through new inventory capabilities and launching new business travel services, as well as expanding product automation through AI.
Led by Avi Meir, CEO and Co-Founder, TravelPerk is a SaaS business travel platform that gives travellers the freedom they want whilst providing companies with the control they need. TravelPerk provides travel inventory alongside management features, 24/7 customer support, state-of-the-art technology, and consumer-grade design, all of which enable companies and organisations worldwide like Revolut, Wise, Redbull, GetYourGuide and Aesop to get the most out of their travel.
In 2023, the company grew revenue by over 70% year-over-year, gross profit increased by more than 90% year-over-year, and annualised booking volumes approached $2 billion. TravelPerk has a team of more than 1200 employees.
FinSMEs
23/01/2024