SAP’s 2014 acquisition of Concur Technologies in December 2014 did not lead to the death of Concur’s Perfect Trip Fund, as we had incorrectly foreseen.
With the news last week that Concur and Shiji Ltd. led a $9.5 million Series A round for StayNTouch, a hotel-tech platform, Brian Camposano, senior vice president of corporate strategy for Concur, said the Perfect Trip Fund made “several” investments in travel startups since the SAP acquisition. Concur had also participated in StayNTouch’s seed round in 2013.
“Concur is continuing to invest in the Perfect Trip Fund, where we support emerging companies that are pioneering new technologies,” Camposano said, adding “we will continue to support entrepreneurs that are creating next-generation travel innovations to support the vision of The Perfect Trip.”
Camposano said Concur doesn’t publicize its investments in travel startups “unless it’s required by the portfolio companies’ reporting requirements.”
Such reporting requirements vary by country around the world.
Over the years, the $150 million Perfect Trip Fund has invested in at least a dozen travel companies, mostly startups. These include a strategic investment in India’s Cleartrip ($63.8 million through May 2014 for a 24.2 percent stake), as well as in startups Curb (acquired by Verifone in 2015), EVA (Expert Virtual Agent), Nor1, StayNTouch, Table 8, Visage, Yapta, Buuteeq (acquired by Priceline in 2014, giving Concur a $14.6 million gain), Room77, Checkmate, and Trover.