In a crowded crop of business travel tech providers eyeing the small business sector, TravelBank got a significant boost in capital this week, with $25 million in additional funding to add staff and further develop its T&E product.
Flight Centre Travel Group last week announced a 25 percent stake in Jay Walker's Upside at an undisclosed price and added the company to its growing portfolio of business travel technology investments.
Tech companies that help travel programs incentivize employees to book at lower prices have been attracting fresh funding. TripActions announced $51 million of Series B financing in March, and Rocketrip won $15 million of Series C financing in April. Those follow TravelBank's $25 million Series B funding last year for its travel booking and expense technology that also promotes a rewards program for travelers who beat budgets.
Another week, another couple of entrants chasing the unmanaged-to-lightly managed business travel segment.
Since ATPCO launched its Next Generation Storefront standard-making initiative less than six months ago, interest and adoption have been swift. From major airlines to travel sellers, many back the core idea of helping carriers consistently categorize the sundry fare options and bundles they sell through third parties.
New blood, new tech and new names are now a fixture of the managed travel landscape, following an era when far fewer travel tech startups explicitly pursued a corporate audience. The Beat reached out to industry veterans with one question: What would you tell a startup coming into corporate travel technology?