Travel operator grows to $4bn value following four trading years

Business travel platform TripActions has seen considerable growth in the past year.

Since securing one of the biggest Series D funding rounds last year in 2019, TripActions now has a company valuation of $4bn after four years of trading.

With the additional funding, TripActions has been able to dial up on its inventory by adding to its New Distribution Capability (NDC) offering and building on the deployment of its Next Gen Storefront (NGS).

In recent months, TripActions turned on direct connections with Southwest Airlines and Lufthansa Group, following an inaugural direct connect with United Airlines in June 2019.

Ilan Twigg CTO and co-founder of TripActions, said: “2019 was a significant year for TripActions. Not only have we secured a colossal amount of funding but we’ve also stuck to our commitments in terms of growing our NDCs and GDS.

“We’ve also continued to ensure that our customers - whether that be travel managers, or the travellers themselves - are at the heart of every decision we make.

“We plan to continue building on our momentum into 2020, while also realising our future expansion plans into Europe.”

Over the past 12 months, TripActions also set up a carbon offsetting programme as part of its mission to ensure travel is as sustainable as possible.

With 90 per cent of travellers across Europe now believing it’s important for their employer to offset their business travel, carbon offsetting has become a priority for TripActions, which is said to be a way of building trust with its customers.

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