TripActions Brings in Silicon Valley Heavyweight to Lead $154 Million Investment Round
Photo Credit: The co-founders of corporate travel agency TripActions shown are shown here at a company exhibition booth at Global Business Travel Association's main trade show in 2018, with CEO Ariel Cohen on the right and CTO Ilan Twig on the right. TripActions
Skift Take
Renowned venture capital firm Andreessen Horowitz has famously pushed the notion that "software is eating the world." It seems likely the firm believes software is now going to upend how companies book travel, in particular, and that companies like TripActions will profit from the shift.
Silicon Valley stalwart Andreessen Horowitz has led a $154 million Series C investment round in TripActions, a corporate travel startup based in Palo Alto.
Andreessen Horowitz, a top-tier venture capital firm that has backed companies like Airbnb and Lyft, joined repeat investors Lightspeed Venture Partners, Zeev Ventures, and SGVC in the round.
TripActions has raised $231 million to date. The latest round placed a billion-dollar valuation on the company.
The deal reflected heightened activity in the sector, where the lines between corporate booking tools, mobile trip-planning apps, and travel-and-expense management tools increasingly blur.
TripActions competitors include TravelPerk, a Barcelona-based company that last month raised a $44 million Series C round. Like TripActions, it claims 700 percent growth, year-on-year, in revenue.
Last year, Baoku, a Beijing-based corporate travel management startup that had raised about $10 million, was acquired by Shiji, the hotel t
