Business travel platform to double London base headcount following $155m investment
A US-based business travel platform is set to double the headcount in its London base after securing multi-million dollar funding.
TripActions has secured $155m in a Series E investment round to expand its presence in Europe.
Led by existing investor Andreessen Horowitz, Addition (founded by Lee Fixel and investor Elad Gil, the round saw participation from existing investors Zeev Ventures, Lightspeed Venture Partners, and Greenoaks Capital.
Since March, TripActions has launched more than 40 new product enhancements and capabilities including a COVID-19 dashboard, reimagined spend analysis dashboard, enhanced traveler safety reporting, automated unused ticket technology, TripActions Liquid Expense and TripActions Enterprise Edition.
The firm will use the new funding to continue developing its platform as well as doubling the headcount in its London office.
Ilan Twig, co-founder and CTO of TripActions, commented: “2020 tested us all like no other, but the team came together, focusing on customers’ needs with new product capabilities to ensure traveler safety, drive cost savings and efficiently manage global T&E programs.
“With this new funding, we’re excited to deliver even more innovation to our customers over the coming months, including expanding our best-in-class, modern travel and spend management platform following the recent launch of TripActions Liquid Expense.”
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