Business Travel Startup TripActions Raises $154 Million

Palo Alto, California-based corporate travel startup TripActions Inc. has raised $154 million in a Series C funding round led by Andreessen Horowitz, the company announced Thursday. TripActions offers a travel booking and management service for companies, designed to help business travelers book hotels, flights, and other related services at a discounted price. This round comes at the heels of a $51 million Series B earlier this year. To date, TripActions has raised a total $236 million in funding.

Founded in 2015 by Israeli-expats Ariel Cohen and Ilan Twig, TripActions received early backing from two prominent Israeli investors, Dov Frances, founder of venture firm SGVC, and Oren Zeev, through Zeev Ventures LLC. Today, the company operates seven offices in locations including Amsterdam, London, and Sydney. TripActions reports Lyft, Dropbox, and Sara Lee Frozen Bakery among its customers.

“Five years from now, TripActions is going to control the corporate travel market and be one of the top technology companies in the world,” Frances told Calcalist Thursday, adding that he took part in each of the company’s investment rounds.