TripActions rallies $14.6 mln Series A


Menlo Park, California-based TripActions, a business travel solutions provider, has raised $14.6 million in Series A funding. Oren Zeev of Zeev Ventures led the round with participation from Arif Janmohamed of Lightspeed Venture Partners.

PRESS RELEASE

Menlo Park, CA – January 24, 2017 – TripActions, a business travel solutions provider that is reinventing the way corporations and employees collaborate on booking, secured 14.6 million in series A funding for its platform to organize and manage company travel, while rewarding employees for spending consciously.

The company’s funding is led by Oren Zeev of Zeev Ventures with participation from Arif Janmohamed of Lightspeed Venture Partners. This round will be used to advance TripActions platform and expand their presence in the corporate travel industry.

“Finding the right investor for our company was extremely important for me and Ilan, this being our second company together” said Ariel Cohen, Co-Founder and CEO of TripActions. “Oren is known throughout the startup world, with a proven track record of not just scaling businesses, but more importantly, reinventing business categories with companies like Chegg, Houzz, Audible, and Tipalti. Our partnership with Arif and Lightspeed is so valuable because of their track record building solid companies across industries and optimizing on results. We’re thrilled that Oren and Arif believe in TripActions and our vision of bringing business travel to the digital age and we’re are very excited to be working with him on delivering results for our customers.”

TripActions’ platform, which has already attracted 70 customers, addresses challenges the business travel space has traditionally faced by offering employees incentives to save their company money when booking. Using TripActions, companies can save 30 percent on their annual travel spend, and employees are rewarded with TripBucksTM for choosing cost-effective travel options. TripActions technology uniquely combines consumer, direct/business inventories for flights, hotels and cars, so travelers have access to special rates and a wide array of travel options.

TripActions’ platform includes:
Fast and easy business and personal trip booking via iPhone and Android apps or via the web
Live Itinerary with direct access to Uber and Lyft on the app
Win-Win for business travelers with support to earn both loyalty points and personal rewards redeemable for gift cards, upgrades, and travel credit for saving when booking
Proactive 24/7 US based support via chat, email, and phone
Back office settings that allow CFOs and travel managers to manage the entire travel program from one place including travel policy customization and real-time spend and savings information for flights, hotels, and rental cars

“CFOs and travel managers actually want a good program for their employees that includes a quality booking experience, proactive support on-the-go, with the ability to control and save travel costs. With TripActions, we align motivations of employer and employee to ensure that both come out on top” said Ariel Cohen, CEO and Co-Founder of TripActions. ”

TripActions is focused on building a modern platform for both HR departments, finance teams, as well as perfecting the customer experience. TripActions now launches publicly with a robust offering, established internal processes, and a phenomenal net promoter score (NPS). “We anchor on user feedback internally to ensure that all teams are focused on our customers and their experience,” says Ilan Co-Founder and CTO. “The existing options that companies use to manage travel are painful for travelers and when you need help, it gets even worse.”

“Business travel is a large category that is ready for disruption,” said Oren. “TripActions has built incredible value for employers and their employees. Already TripActions is thriving, and will continue to because they’re offering a unique and innovative approach.”

For more information, visit www.tripactions.com

About TripActions
TripActions is a Bay-Area based corporate travel solutions provider formed in 2015 by Ariel Cohen, former Co-Founder and CEO of StreamOnce, and Ilan Twig, former Co-Founder and CTO of StreamOnce. TripActions reinvents one of the most used & hated processes in your workplace. Saving customers 30% on their travel budgets and incentivizing their employees along the way. With access to our massive, unbiased collection of consumer, direct, and corporate inventories for flights, hotels, and cars travelers never miss a beat. Our growing team is passionate about disrupting corporate travel management and dedicated to our goal of modernizing travel programs, while rewarding travelers for saving their company money.

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