TravelPerk, a Barcelona, Spain-based travel management platform provider, closed its Series D round at $275m by raising an additional $115m to top the $160M raised in April, reaching a valuation of $1.3bn.
The round was led by new investor General Catalyst and existing investor Kinnevik, and takes the total raised by TravelPerk to $409m. Gillian Tans, ex Chairwoman and CEO of Booking.com, who invested personally in this round, is joining the board of directors alongside Joel Cutler, an early investor in Stripe, Airbnb, and Kayak.
The company intends to use the funds to double down on its efforts in the development of next generation sustainable travel solutions, designed specifically for the era of hybrid working, in the expansion in its target markets, including the US and Europe.
Led by CEO Avi Meir, TravelPerk is a business travel platform with a large travel inventory alongside management features, 24/7 customer support, state-of-the-art technology and consumer-grade design. “As time goes by, it is clear that there won’t be a replacement for the human touch. We are seeing data on our platform and we are feeling it ourselves,” commented Avi Meir. “While some technologies are focused on virtual interactions, TravelPerk is building the technology that will help us get together in real life.”
The company recently released TravelPerk Events, a tool that helps distributed teams come together face-to-face. The company will continue to develop this product offering going forward in 2022.