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January 25, 2024

TravelPerk Secures $104M Investment from SoftBank Vision Fund 2

TravelPerk's recent triumph—an additional $104 million investment, spearheaded by SoftBank Vision Fund 2

Embarking on a journey to redefine corporate travel, Barcelona-based TravelPerk has clinched an additional $104 million investment, led by the esteemed SoftBank Vision Fund 2. As the global business travel sector anticipates surpassing pre-pandemic spending levels, this strategic funding aims to catapult TravelPerk's innovative travel management platform to new heights. Join us as we unravel the latest chapter in TravelPerk's success story, marked by a substantial investment and a commitment to shaping the future of corporate travel.

In a testament to its standing as a leading player, TravelPerk's latest investment is an extension of its $115 million Series D1 funding raised in January 2022. The round, spearheaded by SoftBank Vision Fund 2, also garnered support from existing investors, including Kinnevik and Felix Capital. This injection of funds has propelled TravelPerk's valuation to an impressive $1.4 billion, surpassing its previous valuation of $1.3 billion.

Armed with the newly secured investment, TravelPerk sets its sights on enhancing its platform and revolutionizing the customer experience. The funds will fuel the introduction of new inventory capabilities, the launch of innovative business travel services, and the integration of artificial intelligence to streamline product automation. The company is poised to expand its footprint, with a particular focus on strengthening its presence in the European and US markets.

Founded in 2015 by Avi Meir, Javier Suarez, and Ron Levin, TravelPerk has emerged as a next-generation travel booking and management platform tailored for corporate travel. The platform seamlessly blends consumer-grade design with robust features, offering businesses unparalleled control over their travel needs. Notable clients, including Revolut, Wise, Redbull, GetYourGuide, and Aesop, attest to TravelPerk's ability to reduce time, costs, and complexities associated with corporate travel.

In the face of global uncertainties, TravelPerk's resilience is evident through its no-layoff strategy during the pandemic and strategic acquisitions. The company absorbed US rival NexTravel and integrated UK-based business travel provider Click Travel, demonstrating its commitment to consolidating its position in the market. Additionally, TravelPerk's acquisition of Susterra reflects a dedication to sustainability, calculating travel emissions and actively offsetting carbon footprints.

As the curtain rises on TravelPerk's latest funding triumph, the company stands at the forefront of corporate travel innovation. Avi Meir, CEO, expresses gratitude for the support, emphasizing the commitment to scaling operations across the US and Europe. With SoftBank Vision Fund 2 on board, TravelPerk is well-positioned to drive responsible acceleration, solidifying its role as a trailblazer in reshaping the landscape of global business travel.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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