View source for Company:TripActions

{{Short description|US travel management company}}

{{Infobox company
| name = TripActions, Inc.
| logo = File:TripActions_Logo_Black_on_Transparent.png
| logo_size = 
| logo_padding = 
| logo_alt = 
| logo_caption = TripActions logo
| image = 
| image_size = 
| image_alt = 
| image_caption = 
| trading_name = 
| native_name = 
| native_name_lang = <!-- Use ISO 639-1 code, e.g. "fr" for French. For multiple names in different languages, use {{Lang|[code]|[name]}}. -->
| romanized_name = 
| former_name = 
| type = Privately Held Company
| traded_as = 
| ISIN = 
| industry = Corporate Travel Management
| genre = 
| fate = 
| predecessor = <!-- or: | predecessors = -->
| successor = <!-- or: | successors = -->
| founded = March, 2015
| founders = Ariel Cohen (CEO), Ilan Twig (CTO)
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| hq_location = Palo Alto, {{wipe|California}}, United States
| hq_location_city = 
| hq_location_country = 
| num_locations = 
| num_locations_year = <!-- Year of num_locations data (if known) -->
| area_served = Worldwide
| key_people = Ariel Cohen (CEO)<br/>Ilan Twig (CTO)<br/>Thomas Tuchscherer (CFO)<br/>Fred Stratford (CEO, Reed & Mackay, A TripActions Company)<br/>Shaka Senghor (Head of DEI)<br/>Ofer Ben-David (SVP of R&D)<br/>Grant McGrail (CRO)<br/>Whitnee Hawthorne (CCO)<br/>Danny Finkel (CCO) <br/>Meagen Eisenberg (CMO)<br/>Michael Sindicich (GM, Liquid)<br/>Nina Herold (GM, Travel)<br/>Michael Riegel (GM, Europe)<br/>Kim Huffman (CIO)<br/> Howard Baik (GC)
| products = 
| brands = 
| services = 
| revenue = 
| equity = 
| equity_year = <!-- Year of equity data (if known) -->
| num_employees = 2,500<ref>{{cite web | url=https://www.forbes.com/companies/tripactions/?sh=33b121c89cf1 | title=TripActions &#124; Company Overview & News | website={{wipe|Forbes}} }}</ref>
| num_employees_year = 2022
| parent = 
| divisions = 
| subsid = 
| module = <!-- Used to embed other templates -->
| website = {{URL|tripactions.com}}
| footnotes = 
| intl = <!-- Set positively ("true"/"yes"/etc) if company is international, otherwise omit -->
}}
'''TripActions''' is a [[Social:Corporate travel management|travel management]], corporate card and [[Social:Expense management|expense management]] company for businesses.<ref name=autogenerated1>{{cite web|url=https://skift.com/2018/07/18/tripactions-expands-globally-with-a-focus-on-service/|title=TripActions Expands Globally With a Focus on Service|date=18 July 2018|website=Skift|last1=Sheivachman|first1=Andrew|accessdate=18 July 2018}}</ref> Booking and managing travel and expenses can be done on the web or via a [[Engineering:Smartphone|smartphone]] app.<ref name=":0">{{cite web|url=https://appadvice.com/post/business-travel-nightmares/736236|title=TripActions Aims to Eliminate Business Travel Nightmares Forever|website=AppAdvice|last1=Wolfe|first1=Bryan|date=26 January 2017|accessdate=10 July 2017}}</ref>

==History==
The Palo Alto, California-based travel company, TripActions Inc., was founded in May 2015 by Ariel Cohen and Ilan Twig (also the founders of StreamOnce, acquired by [[Company:Jive Software|Jive Software]]).<ref>{{cite web|url=https://techcrunch.com/2017/01/24/tripactions-raises-14-6-million-for-corporate-travel-booking/|title=TripActions raises $14.6 million for its corporate travel booking tool|website=TechCrunch|last1=Roof|first1=Katie|accessdate=6 July 2017}}</ref>

In May 2015, TripActions received a $4 million Seed round led by Zeev Ventures with participation from Dovi Frances and Lightspeed Venture Partners.

In January 2016, TripActions received $14.6 million [[Finance:Series A round|series A round]] led by Oren Zeev Ventures and Lightspeed Venture Partners with participation from Group 11. The company officially launched out of stealth mode and announced their funding in January 2017.<ref>{{cite web|url=https://skift.com/2017/01/26/tripactions-raises-14-million-business-travel-booking-travel-startup-funding-this-week/|title=TripActions Raises $14 Million to Trim Rogue Bookings|website=Skift|last1=O'Neill|first1=Seab|date=26 January 2017|accessdate=10 July 2017}}</ref> In October 2017, the company announced that they had raised an additional $12.5 million led by [[Company:Lightspeed|Lightspeed]] with participation from Zeev Ventures and Group 11.<ref>{{Cite news|url=https://www.forbes.com/sites/omribarzilay/2017/10/04/tripactions-raises-27m-to-transform-the-1-3t-business-travel-industry/#7218e70773b7|title=TripActions Raises $27M To Transform The $1.3T Business Travel Industry|last=Barzilay|first=Omri|work=Forbes|access-date=2018-03-14|language=en}}</ref>

The company moved in June 2017 from Menlo Park, California to its headquarters in Palo Alto.<ref name=":1" />

In March 2018, the company announced a $51 million Series B round led by the same two investors with participation from prior investors.<ref name=":1">{{Cite news|url=https://www.cnbc.com/2018/03/07/tripactions-plots-expansion-with-51-million-investment.html|title=Start-up TripActions raises $51 million to take on corporate travel giants|last=Josephs|first=Leslie|date=2018-03-07|work=CNBC|access-date=2018-03-14}}</ref>

In July 2018, TripActions announced its international expansion to Europe with an office in London and their European headquarters in Amsterdam.<ref name=autogenerated1 /> They shared potential plans to expand to the Asia-Pacific region to scale their customer support infrastructure.<ref>{{cite web|url=http://www.businesstravelnews.com/Global/TripActions-Opens-First-Non-US-Offices|title=TripActions Opens First Non-U.S. Offices|date=24 July 2018|website=Business Travel News|last1=Habtemariam|first1=Dawit|accessdate=18 July 2018}}</ref>

In September 2018, the company opened an office in Sydney, Australia.

In November 2018, the company announced a valuation north of $1 billion and a $154 million Series C funding round led by new investor Andreessen Horowitz, with participation from repeat investors Lightspeed Venture Partners, Zeev Ventures, and Group 11.<ref>{{Cite news|url=https://tripactions.com/tripactions-raises-154m-at-over-1b-valuation|title=Rapid customer growth momentum propels new-era corporate travel management company TripActions to $154M raise with valuation north of $1B|date=2018-11-08|work=TripActions|access-date=2018-11-15}}</ref>  [[Biography:Ben Horowitz|Ben Horowitz]] joined the Board of Directors.

In February 2019, the company announced its new flight storefront in alignment with major airline partners and industry association ATPCO.<ref>{{Cite news|url=https://tripactions.com/blog/new-standard-for-booking-flights/|title=A New Standard for Booking Flights|date=2019-02-05|work=TripActions|access-date=2019-02-05}}</ref> The storefront includes branding and imagery of cabin classes and amenities for each airline. It works for domestic and international flights, including international-to-international itineraries, and for flights on joint venture partners of American, Delta and United.<ref>{{Cite news|url=https://skift.com/2019/02/05/tripactions-adopts-u-s-airlines-next-generation-storefront-effort/|title=TripActions Adopts U.S. Airlines' Next-Generation Storefront Effort|date=2019-02-05|work=Skift|access-date=2019-02-05}}</ref>

In February 2019, the company also announced the addition of Meagen Eisenberg as Chief Marketing Officer.{{Citation needed|date=October 2021}}

Later in February 2019, TripActions was recognized as one of Fast Company's Most Innovative Companies in Travel for 2019.<ref>{{Cite news|url=https://www.fastcompany.com/most-innovative-companies/2019/sectors/travel|title=The World's Most Innovative Companies 2019|date=2019-02-21|work=Fast Company|access-date=2019-02-21}}</ref>

In June 2019, the company announced its NDC-enabled platform in partnership with United Airlines.<ref>{{Cite news|url=https://www.phocuswire.com/TripActions-United-NDC-integration|title=TripActions launches NDC platform in partnership with United Airlines|date=2019-06-11|work=Phocuswire|access-date=2019-06-11}}</ref> At the same time, TripActions raised a $250 million Series D funding round from Andreessen Horowitz, Zeev Ventures, Lightspeed Venture Partners and Group 11. The total valuation of the company reached $4 billion.<ref>{{Cite web|url=https://www.forbes.com/sites/bizcarson/2019/06/27/tripactions-corporate-travel-road-warrior-4-billion/|title=TripActions, A Corporate Travel Startup That Rewards Road Warriors For Booking Cheap Hotels, Is Now Worth $4 Billion|last=Carson|first=Biz|website=Forbes|language=en|access-date=2019-06-28}}</ref>

In July 2019, the company appointed Ciara Govern as Chief Customer Officer.{{Citation needed|date=October 2021}}

In September 2019, the company announced its carbon impact initiative through providing customers visibility into the emission output of their travel programs.<ref>{{Cite news|url=https://www.phocuswire.com/tripactions-carbon-impact-data|date=2019-10-02|work=Phocuswire|access-date=2019-10-02|title=TripActions surfaces carbon impact data for flights and rail}}</ref> In the same month, TripActions was recognized in the Top 20 of the Forbes Cloud 100 award.<ref>{{Cite news|url=https://www.forbes.com/cloud100/#13d0b8065f94|date=2019-09-11|work=Forbes|access-date=2019-09-11|title=The Cloud 100}}</ref>

In November 2019, TripActions announced that it had enabled an NDC-enabled direct connection to the Lufthansa Group.<ref>{{Cite news|url=https://www.businesstravelnews.com/Distribution/TripActions-Connects-to-Lufthansa-Group-NDC-API|title=TripActions Connects to Lufthansa Group NDC API|date=2019-11-06|work=Business Travel News|access-date=2019-11-06}}</ref>

In December 2019, the company announced the addition of Thomas Tuchscherer as Chief Financial Officer to scale corporate development and finance operations.<ref>{{Cite news|url=https://www.wsj.com/articles/travel-startup-tripactions-hires-first-cfo-11576080000|title=Travel Startup TripActions Hires First CFO|date=2019-12-11|work=The Wall Street Journal|access-date=2019-12-11}}</ref>

In February 2020, TripActions launched TripActions Liquid, a payment, expense and reconciliation technology integrated into its core platform.<ref>{{Cite news|url=https://skift.com/2020/02/28/tripactions-breaks-into-financial-technology/|title=TripActions Breaks Into Financial Technology|date=2020-02-28|work=Skift|access-date=2020-12-23}}</ref> Alongside that announcement, the company announced the security of $500 million on credit to fuel the platform.<ref>{{Cite news|url=https://techcrunch.com/2020/02/25/tripactions-secures-500m-credit-facility-for-its-new-corporate-travel-product/|title=TripActions secures $500M credit facility for its new corporate travel product|date=2020-02-25|work=TechCrunch|access-date=2020-12-23}}</ref>

In June 2020, TripActions raised $125 million in debt financing.<ref>{{Cite news|url=https://www.bizjournals.com/sanjose/news/2020/06/16/tripactions-debt-ipo-financing-greenoaks-vista.html|title=TripActions lands millions in financing as it plans for corporate travel comeback
|date=2020-06-16|work=Silicon Valley Business Journal|access-date=2020-12-23}}</ref>

In October 2020, TripActions expanded the TripActions Liquid product by adding broader expense capabilities.<ref>{{Cite news|url=https://skift.com/2020/10/06/tripactions-expands-into-expense-management-with-eye-on-rivals-like-concur/|title=TripActions Expands Into Expense Management With Eye on Rivals Like Concur|date=2020-10-06|work=Skift|access-date=2020-12-23}}</ref>

In January 2021, TripActions raised a $155 million Series E round of funding.<ref>{{Cite news|url=https://skift.com/2020/10/06/tripactions-expands-into-expense-management-with-eye-on-rivals-like-concur/|title=Scientist-investor Elad Gil is making a big bet that business travel will rebound after Covid|date=2021-01-21|work=CNBC|access-date=2020-02-04}}</ref>

In May 2021, TripActions announced that it had acquired UK corporate travel management specialist Reed & Mackay.<ref>{{Cite web|date=2021-05-05|title=Inflexion exits Reed & Mackay to TripActions|url=http://www.privateequitywire.co.uk/2021/05/05/299711/inflexion-exits-reed-mackay-tripactions|access-date=2021-06-11|website=www.privateequitywire.co.uk|language=en}}</ref>

In October 2021, TripActions raised a $275 million Series F round of funding with a valuation near $7.25 billion. It reported having 1500 employees.<ref>{{Cite web|date=2021-10-13|title=Why TripActions' $275M raise has fintech to thank|url=https://techcrunch.com/2021/10/13/from-0-in-revenue-to-a-7-25b-valuation-why-tripactions-275m-raise-has-fintech-to-thank/|access-date=2021-10-13|website=www.techcrunch.com|language=en}}</ref>

In February 2022, TripActions acquired Comtravo, a German corporate travel company with 2,500 clients and 250 employees.<ref>{{Cite web|date=2022-02-08|title=TripActions Rolls Up Another European Travel Agency With German Acquisition|url=https://skift.com/2022/02/08/tripactions-rolls-up-another-european-travel-agency-with-german-acquisition/|access-date=2022-02-08|website=www.skift.com|language=en}}</ref>

==Services==
All functionality including administrative travel management can be done through the desktop and mobile application. Users have the ability to book trips, file receipts, modify reservations, track travel itineraries, chat with travel support agents, receive real-time notifications, and reconcile expenses.<ref>{{cite web|url=https://venturebeat.com/2017/01/24/tripactions-launches-its-business-travel-app-and-unveils-a-14-6-million-round/|title=TripActions launches its business travel app and unveils a $14.6 million round|website=VentureBeat|last1=Magistretti|first1=Bérénice|date=24 January 2017|accessdate=12 July 2017}}</ref>

TripActions partners with multiple suppliers in the market to provide users with a wide array of travel selection. Inventory on the platform comes from consumer, corporate, and direct integrations.<ref name=":2">{{cite web|url=https://www.forbes.com/sites/kateharrison/2017/01/25/after-14-6m-raise-in-2016-a-new-corporate-travel-rewards-program-arrives-on-the-scene/#6f2acf6f6bec|title=After $14.6M Raise In 2016, A New Corporate Travel Rewards Program Arrives On The Scene|website=Forbes|last1=Harrison|first1=Kate|accessdate=2 July 2017}}</ref>

TripActions Liquid provides companies and employees with a suite of tools to manage and track spend. With physical and virtual cards, smart approval workflows, automated expense reports and centralized billing, the technology is positioned as a modern alternative to legacy payment and expense systems.

The platform uses [[Artificial intelligence|artificial intelligence]] and [[Machine learning|machine learning]] to optimize search results, inventory and the support experience. Results are prioritized using the company's policies, real-time market prices and individual employee preferences including [[Finance:Loyalty program|loyalty program]] memberships.<ref>{{cite web|url=http://www.businessnewsdaily.com/9907-ariel-cohen-tripactions.html|title=Finding the Balance: Why We Focus on Employee Experience and Company Savings|website=Business News Daily|last1=|first1=|accessdate=9 July 2017}}</ref>

The system's admin dashboard tracks company spend, potential savings, and employees' travel and spend patterns. In accordance with [[Social:Duty of care|duty of care]], the admin dashboard features a live map that shows where employees are traveling in real time. Finance and travel teams can contact travelers directly within the application in emergency situations.<ref>{{cite web|url=http://www.ibtimes.com/tripactions-platform-aims-make-booking-business-trips-easier-companies-employees-2479836|title=TripActions: Platform Aims To Make Booking Business Trips Easier For Companies and Employees|website=International Business Times|last1=Moreno|first1=Denisse|date=24 January 2017|accessdate=12 July 2017}}</ref>

==Partnerships==

TripActions partners with Sabre Corporation and the Amadeus IT Group for [[Software:Global distribution system|Global distribution system]] content and is a member of the Priceline Group Affiliate Network as well as the Expedia, Inc. Partner Network to combine inventories for flights, accommodations, and rental cars from direct, corporate, and consumer sites. 

Users can access [[Mobile app|mobile app]]s for [[Company:Uber|Uber]] and [[Company:Lyft|Lyft]] in their mobile travel itineraries while traveling.<ref>{{cite web|url=http://www.pymnts.com/news/b2b-payments/2017/corporate-travel-online-with-ease-and-savings/|title=Corporate Travel, Online With Ease And Savings|website=PYMNTS.com|last1=|first1=|date=31 January 2017|accessdate=10 July 2017}}</ref>

TripActions Liquid is powered by partnerships with [[Company:Stripe|Stripe]] and [[Company:Visa Inc.|Visa Inc.]]

==External links==

==References==
{{Reflist|30em}}

[[Category:Travel management]]
[[Category:Companies (Social)]]
[[Category:Companies]]

{{Sourceattribution|TripActions|1}}