As TripActions readies a new airline shopping interface for its booking system that includes a new ATPCO-led and Delta-approved star rating concept for airline products, it is seemingly back in the airline's good graces and this week will be back in the business of selling Delta.
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.
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.
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.
After a year of testing and client pilots, Bay Area corporate travel startup TripActions is officially launching. TripActions bills its offering as "all-in-one travel management technology" that provides travelers with booking and in-trip mobile technology, a rewards system for beating budgets and offline agent support. For client companies, TripActions promises simple, all-inclusive pricing, policy management, the ability to load discounts, data reporting and savings.
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.
Another week, another couple of entrants chasing the unmanaged-to-lightly managed business travel segment.
Milwaukee-based travel management company Adelman plans to launch an out-of-the box offering for small businesses to transition from unmanaged to managed travel.
In a memo to Concur's preferred travel management company partners last week, EVP of supplier and TMC services Mike Koetting called small businesses the industry's "white whale." With its new Concur Hipmunk product for unmanaged travel, Concur has sharpened its harpoon and joined plenty of would-be Captain Ahabs.
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