BarcelonaBarcelona platform specializing in business travel, Travelperk, has closed an investment round worth $104 million, or about 95.4 million euros. The company, which has already won the status of the fourth Catalan unicorn – a company valued at more than 1,000 million euros – has achieved, within the framework of this capital increase, a valuation of more than 1,285 million euros.
The round was led by Softbank and also included existing investors Kinnevik and Felix Capital. This is actually an “extension” of the D round that was closed in January 2022, that is, two years ago, and in which the company raised about 101 million euros. The move will see Stephen Thorne of SoftBank Investment Advisers join the board.
With this capital infusion, TravelPerk aims to further invest in the platform, enhance customer experience through new inventory capabilities and launch new business travel services, as well as expand product automation through artificial intelligence.
In 2023, the company finished the year with revenue increasing more than 70% year over year. Meanwhile, gross profit increased by more than 90% year-on-year.
“We have a clear goal: to build a business travel platform Software as a service “(SaaS) is number one for SMBs and mid-sized companies in Europe and the United States,” the company's CEO and co-founder, Avi Meir, said in a statement.
Founded in 2015, the company has raised €400 million to date and has 1,200 employees
He added that the capital increase “confirms investors’ commitment to the company’s vision and strategy,” because at a time when access to financing for startups is difficult, “winning technologies are separated from the rest.”
Travelperk, founded in 2015, has raised more than €400 million in funding to date. It already has 1,200 employees, and as Meir explained, the company's goal is to continue expanding its teams while increasing its presence in the United States and the rest of Europe.
In January 2022, Travelperk jumped into the unicorn category, joining the list of Catalan technologies valued at more than €1,000 million that were already occupied by eDreams, Glovo and Wallbox.
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