Travel Booking Startup TravelPerk Raises $21 Million

TravelPerk S.L., a business travel booking startup, announced Wednesday it had raised $21 million in a Series B round led by Berlin-based venture capital firm Target Global and London-based Felix Capital. Early investors Spark Capital and Sunstone also participated in the round, as well as new investor Amplo.

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TravelPerk developed and operates a free to use business travel platform on which clients can search, book, and pay for flights and hotels, manage itineraries, invoices, and loyalty programs, and access their travel data. TravelPerk’s platform is integrated to that of other travel booking sites including Booking.com, Expedia, Skyscanner, and Airbnb.

Barcelona-based TravelPerk was founded in 2015 by chief product officer Javier Suarez and by CEO Avi Meir, who is a veteran of the Main Technological Unit of the Israeli Intelligence Corps, and a co-founder of Hotel Ninjas, sold to Booking.com in 2014. TravelPerk employs a team of around 100 people and has over 1,000 customers, according to a company statement.

“Almost everyone you speak to, who has traveled for work, has personal experience of how painful business travel can be,” Mr. Meir said in a statement. "Until now, businesses had to choose between two bad options: either antiquated enterprise solutions or an alphabet soup of ad hoc consumer tools. We went back to first principles instead to design the world’s best experience for travelers, business administrators and finance managers, alike.”

TravelPerk said it would use the funding to hire more software engineers, product owners, sales reps, and customer support specialists, doubling the size of its team by 2019, as well as to fund global expansion with new offices in up to five countries.