Not content with having raised $21 million in Series B investment in April 2018, new-gen travel management platform TravelPerk has successfully passed the hat around a second time in the same year. The company announced this week that it has drummed up Series C funding of $44 million, backed by technology investors such as Kinnevik, Yuri Milner and Tom Stafford.
A few years ago, startups going explicitly after the corporate travel market were few and far between. Now, the number of new entrants and tech providers entering is growing, and so is the sum of venture capital behind them.
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.
Travelfusion handled 30,000 NDC bookings in September, up from 10,000 in March, CEO Moshe Rafiah told The Beat last week. He expects 35,000 bookings in October and projects 20 percent growth monthly for the foreseeable future.
Another week, another couple of entrants chasing the unmanaged-to-lightly managed business travel segment.