This news comes on the heels of its Series D funding round. It plans to use the funding to develop travel solutions designed to cater to hybrid workforces. Here are the top-line bullets you need to know.
TravelPerk, a business travel management platform, has raised $115M in an extended Series D. The round drew participation from General Catalyst and Kinnevik, among others.
How’s the company performing?
- Spain-based TravelPerk helps businesses manage employee travel and related expenses.
- In 2021, TravelPerk enhanced its capabilities by acquiring Susterra, NextTravel, and Click Travel.
- Since 2019, the company’s annualized revenue has grown by 4x.
- It has doubled its customer acquisition rate since 2019, and it currently caters to brands like Uber, Airbus, Farfetch, Lightspeed, Beyond Meat, Revolut, and USA Rugby.
- Headquartered in Barcelona, TravelPerk also has offices in London, Berlin, Chicago, and Miami.
Source: TravelPerk
Why does the market matter?
- The global business travel market is expected to reach a value of $2T by 2028, growing at a CAGR of 13.2%, according to Allied Analytics.
- The globalization of business operations and increased infrastructural investment have contributed to growth in this market.
- Post-pandemic recovery of the travel & tourism industry and the rising demand for business travel management solutions are key market drivers as well.
