Travelperk Executive Director and Ava co-founder Meir.
Tourist
Travelperk, a corporate trip platform, has raised $ 200 million from investors, including Atomico and EQT in the financing circle, estimating a company at $ 2.7 billion, CNBC said.
Fresh funding doubles the market value of Travelperak since January 2024, when he raised $ 104 million to an estimate of $ 1.4 billion. The Noteus Partners also participated in the last round of investment.
In addition to the financing circle, the startup headquarters in Barcelona revealed that he had acquired Yokoy, a Swiss consumption platform, a contract that would see that he expands his range into financial services and become a more unique travel and cost platform.
As a result of acquisition, Yokoy Investor Sequoia Capital will join the CAP Table Tabelo, along with the existing investors General Catalyst, Kinnevik, Softbank’s Vida and Black stone.
Travelperk said that new money will be used to accelerate growth, expanding fuel in the US market and investment in products, technology and artificial intelligence.
From koiding fights up to $ 2.7 billion
Jean-Christophe Taunay-Bucalo, President and CEO of Travelperak, said CNBC risky capitalists were attracted to the story of the company’s growth after declining from the time of fighting during the Pandemia of Covid-19.
Travelperk saw that revenues were quickly reduced in 2020 and 2021, as most of the business trip stopped. The revenue has since increased to about five times the size before Coid hit, according to Taunay-Bucalo.
“Why is we going so well now because we had that period where you had to be strong. You had to have a good foundation, you had to be lean,” he said.
Hillary Ball, a partner aimed at the growth of atoms, said the company was attracted to investing in Travelperk because it deals with “a complex and difficult problem to solve” around corporate trips.
“This is a market that came after a pandemic,” Ball told CNBC. “Last year, the global value of a corporate trip was $ 1.5 trillion-it is 6% compared to before pandemic and in 2019. It is really clear that this is the market that is here and the one that is growing.”
Corporate trips are a “mammoth consumption area” for companies, she added.
Last year Travelperk raised 104 million dollars of venture funding From softbank others to increasing investment in the development of AI technology and products.
Later in the year company subsequently collected an additional $ 135 million in debt funding and gained AmtravCorporate trips S
The company then raised an additional $ 135 million debt financing and bought Amtrav, a corporate -reservation -reservation company with headquartered in Chicago to help it expand on the US market.
“We think this is a very large market. We are big about $ 200 billion, between the US and Europe, the directly addressed market, MSP and the middle market”, Carolina Brochado, found a partner and deputy head of the EQT- Growth Fund- And, CNBC said.
“We think, out of those 200 billion dollars, about half of it without managing. So you and I are at a Booking.com company for a hotel, going to Expedia for flight. This is a very fragmented, separated, separated experience . “
Despite achieving a scale with over 1500 employees and a value estimate of $ 2.7 billion, Taunay-Bucalo said Travelperk is not hectic for IPO and that it is primarily focused on making customers happy.
“There is no plan in the short term,” he said. “We want to be here in 100 years … We have this almost unusually long -term account for a technological company. And as a consequence, the way we see the world is a little different. We don’t want to do those quick things, and then come out.”
Don’t worry about ‘Agent’ AI ‘
Taunay-Bucalo said that Travelpperk would continue to invest in AI to improve its product offer and that Yokoy Acquivation would bring “extremely strong AI team”.
Devis Lussi, Chief Technology Director of Yokoya, has previously worked at the Swiss-French CERN Particle Particle Laboratory Laboratory.
Travelperk’s tech chief is not concerned about the appearance of the so -called “agent” AI, which refers to systems that can autonally perform actions on behalf of people, instead of relying on the instructions.
Last week Openii posted an operator, AI agent who can perform tasks such as restaurant planning and reservation on behalf of the user.
“It’s a reality,, Things don’t change overnight, “Taunay-Bucalo said, discussing Openai’s announcement operator.
“Everything we see is happening, we test it,” he added. “We’ll test him. We’ll let him go. If he succeeds, we keep him. If that doesn’t work, we kill him.”
