Traveler said on Tuesday that he had raised $ 200 million. This is the first important venture capital agreement in Travel Tech announced this year and the most important for a spending management platform Since 2023.
THE overestimated The E series increases the company’s assessment to $ 2.7 billion. Travelperk raised $ 104 million for an evaluation of $ 1.4 billion in January 2024. The company has now lifted a total of more than $ 700 million.
Travellone, based in Barcelona, is a business travel agency focused on small and medium-sized enterprises in the United States and Europe. Customer companies and their employees can reserve and manage travel and expenses via a technological platform. Customers include Red Bull, Gotyourguide and Aesop.
The $ 200 million Travelperk agreement is probably an overview of what to expect in 2025. There was Several large increases in 2024 – including hundreds of millions of dollars for business travel platforms – and signs indicate that this continued.
Travelperk said funding will go to continuous expansion in the United States Amtrav acquired from Chicago in 2024Who added 1,000 new customers to its portfolio and has made the United States its main income region.
Funding will also strengthen its technology and products. Avi Meir, CEO and co-founder of Travelperk, said at the beginning of 2024 That the company did not plan to raise more capital, but changed their courses to integrate the latest IA advances.
Atomico and EQT Growth have been touring, with the participation of New Investors Noteus Partners and Sequoia Capital, as well as previous general investors Catalyst, Kinnevik, SoftBank Vision Fund and Blackstone. Hillary Ball of Atomico and Carolina Brochado de Growth EQT both join a board of directors of Travelperk.
Travelperk said he had exceeded $ 2.5 billion in reservations per year and has increased income by more than 50% each of the last two years to more than $ 200 million. The company also declared that it had reached the profitability threshold in Ebitda at the end of 2024.
Travelperk acquires Yokoy
Travelperk also said they had acquired YokoyA Swiss -based expenditure management startup founded in 2019. It was an investment agreement, and the purchase price was not disclosed.
Meir noted that the work of Yokoy’s IA in a declaration on the agreement: “We share a common vision for the role of AI reshaping on the future of travel and expenditure management, and innovation that Looks from Yokoy’s IA laboratories to Zurich is really impressive. ”
Travelperk said that he has been associated with Yokoy since 2020, offering joint services to customers such as Breitling, executed and Medskin.
Yokoy increased income by 281.88% More than three years, according to a 2024 publication report. Yokoy has raised more than $ 100 million, more recently in a B series of $ 80 million in March 2022. The company has more than 700 customers.