TripActions Wants to Find Ways to Unite Dispersed Employees With $155 Million in New Funding
Photo Credit: Corporate travel agencies could play a role in helping customers plan more offsite meetings. Unsplash / Redd F
Skift Take
A significant investment, but it's still too early to tell if corporate travel has the potential to make any significant comeback this year.
Eyebrows will be raised at TripActions’ $155 million funding round, considering business travel’s very uncertain future.
Investors on Thursday threw yet more cash at the travel booking and expense platform. This Series E round follows its $125 million raising in June last year, and tops off an eventful few weeks for several other corporate travel startups.
So far TripActions has secured a total of $790 million, and the company claims it's now valued at $5 billion, up from $4 billion before the pandemic began.
Its investors must clearly think travel will return this year. Now, TripActions will use some of that money to investigate how, following the platform's push into expense management in 2020.
Remote Control
To start with, TripActions predicts that travel will grow, due to the remote work effect.
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