TripActions is an all-in-one travel, corporate card, and expense management company.

TripActions announced a Series G raise comprising $154 million in equity from new and existing financial investors as well as a $150 million structured capital transaction led by Coatue, marking the third financing round for the company in three years. (TripActions)

Prominent investors in TripActions include Andreessen Horowitz, Lightspeed Venture Partners, Akkadian Ventures, Zeev Ventures and Elad Gil.

The company will use the funds to boost its global expansion, including acquisitions if any, and for new offices openings in Portugal, Germany, France, and the UK. At its 60 global offices the company currently employs more than 2500 people.

Growth metrics

· Business travel has recovered and Q2 FY23 gross bookings up more than 5x year-over-year

· TripActions’ card-led automated expense management platform, TripActions Liquid, records more than 7.5x spend volume growth in Q2 FY23

· Acquisitions of travel management companies Reed & Mackay, Comtravo, and Resia, in the past year

· Since early 2020, TripActions has recorded a 2x-plus valuation increase

“TripActions is building the best travel and expense management solution in the world. The recent funding round shows not only the strength of its business model, but also the value to companies looking to increase savings and enable responsible spending,” said TripActions CEO and co-founder, Ariel Cohen. “TripActions is proof that empowering users through relentless innovation and automation is the future of travel.”

“All road warriors have experienced the pain of booking flights, making last-minute changes, and submitting expenses,” said Dan Rose, Chairman at Coatue Ventures. “TripActions is bringing modern software to make all of this more seamless. And at a time when companies are more focused than ever on controlling expenses, TripActions saves enterprise companies money by aligning employees’ incentives with the business.”

Related Story: Travel And Spend Management Platform TripActions Scores $155M Round