Travel management companies come in all shapes and sizes, each with its own mission, identity, product portfolio, geographic footprint and client base. Despite their distinguishing factors, TMCs share commonalities in near-term business investments, according to research published this week by The Beat.
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.
Following prepared remarks from executives on Travelport's first-quarter earnings call Thursday, CEO Gordon Wilson preempted questions on the stake that entities affiliated with activist investor Paul Singer took in the company. That investment was revealed in late March.
Australia-based travel management company Corporate Travel Management and Flight Centre Travel Group's corporate-focused brands this week reported solid growth in corporate travel transactions across their multinational operations and laid out further growth ambitions for the U.S. corporate market.