2 years ago

TravelPerk Secures $104 Million in Funding Led by SoftBank Vision Fund 2

  • TravelPerk, a London-based business travel management platform, has raised an additional $104 million in funding

  • The round was led by SoftBank Vision Fund 2 with participation from existing investors including Kinnevik and Felix Capital

  • The company plans to use the funds to invest in its platform, enhance the customer experience, expand product automation through AI, and launch new business travel services

  • TravelPerk provides travel inventory, management features, 24/7 customer support, state-of-the-art technology, and consumer-grade design to companies and organizations worldwide

  • In 2023, the company grew revenue by over 70% year-over-year and gross profit increased by more than 90% year-over-year.

      • ProblemTechnology

      "Businesses struggle to manage travel expenses effectively, with challenges like limited choice, inefficient booking processes, lack of control over spending, and limited data insights."

      Solution

      "TravelPerk is a business travel management platform that provides a centralized platform for booking flights, hotels, and other travel services, offering features such as real-time pricing, policy enforcement, automated expense management, and detailed travel data insights to help businesses manage their travel programs efficiently and cost-effectively."

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