TravelPerk is a corporate travel management company that has recently been spotlighted as one of the fastest-growing within its niche of the travel industry. The company has made impressive strides in growth, despite the ongoing Covid-19 pandemic. TravelPerk is upsetting the travel industry with its travel and expense management services that help its clients stay within their established budgets. To help you become more familiar with this impressive startup, here are 20 things you didn't know about TravelPerk.
1. It is just 6 years old
According to Wikipedia, TravelPerk has only been in business for six years. It was founded in 2015 by Avi Meir, Javier Suarez, and Ron Levin. The company provides automation for businesses that help manage travel and expenses by setting spending limits and travel policies. This is a useful set of features that help to cut down on the amount of unnecessary expense for corporations that have large budgets for travel.
2. TravelPerk is an international company
TravelPerk has its headquarters established in three major countries throughout the world. It is housed in London, England in the United Kingdom. Additional offices are located in Berlin, Germany, and Barcelona, Spain. These are the three headquarters, but there are also other offices open in Germany and London.
3. The founders of TravelPerk met at Booking.com
Avi Meir was the founder of Hotel Ninjas, which is a web-based Hotel Management Software firm. It was acquired by Booking.com. TravelPerks is a similar type of company in which he has extensive experience. After selling his first startup he met Suarez while he was working for Booking.com. The two put their ideas together for developing a new business travel management platform that would offer unique benefits to make it stand out in the industry. By September of 2015, they had completed the platform and launched TravelPerk officially.
3. TravelPerk is a multi-award winning company
TravelPerk grew rapidly in size and popularity since its launch in the Fall of 2015. By 2017, it was officially recognized with an award for the Next web best scale-up. The same year it won a Startup contest at Noah Berlin. In 2019, TravelPerk received the NTT Data Open Innovation Contest Award. This was followed by being placed on the list of the SaaS 1000 Fastest-Growing SaaS Companies list, which is a prestigious acknowledgment.
4. TravelPerk is a versatile company under four categories
According to Crunchbase, TravelPerk is listed under four major industries on the web. It is a business travel company, but it also develops and provides software solutions as a part of the SaaS industry. it also provides ticketing services for its clients, which makes it diverse in providing multiple services for its customer base.
5. TravelPerk is a next-generation company
TravelPerk has taken travel booking and management services to new levels for its clients. It is considered to be a next-generation business with a platform that provides multiple essential services to help streamline booking and management of expenses, with set limitations and adherence to the travel policies for each client served. It does so through automated systems that cut down on the amount of human effort and man-hours required. TravelPerk provides a platform for booking business travel that offers an all-in-one service for companies of all sizes. The platform is customizable to meet the needs of any size business throughout the gamut of various industries.
6. TravelPerk Acquired Albatross API
On July 9, 2020, TravelPerk Acquired Albatross API. Albatross is a company that provides information on Covid-related travel restrictions along with health requirements and local guidelines. The company is based in Barcelona, and Catalonia, Spain. The cost of the acquisition was not disclosed. The purchase of this company added useful information for travelers making travel arrangements during the pandemic, with useful information about all restrictions and regulations for specific destinations throughout the world.
7. TravelPerk acquired NexTravel
In another strategic move to grow and expand its services, TravelPerk purchased a company called NexTravel. On January 13, 2021, the agreement closed with a total funding amount of $4.5 million. NexTravel is a company based in Santa Monica, California in the United States. It is a business travel platform that allows clients to take ownership over their end-to-end booking experience from start to finish.
8. TravelPerk is a late-stage venture capital-backed company
Although TravelPerk is just 6 years old, it has matured in its financial standing to a late-stage venture capital-supported firm. TravelPerk has completed 8 rounds of successful fundraising. The most recent round closed on April 29, 2021. The round of Series D rounding raised $160 million. It was led by Greyhound Capital as the lead investor, joined by 9 other investors.
9. TravelPerk has 26 investors
There is no lack of confidence in TravelPerk's likelihood of continued financial success among its investors. So far it has attracted the support of 26 investors. The lead investors include Greyhound Capital, Kinnevik AB, Felix Capital, Target Global, Sparks Capital, and three others. More investors include 14W, Local Globe, Amplo, DST Global, Heartcore Capital, and several others. The total amount of funding that has been raised is $293 million. The first round of Seed funding closed on July 1, 2015, just before the launch of TravelPerk, for $11.5 million. This was followed by a round of Series A funding in June of 2016, raising an additional $7 million, a Series B round in April of 2018 for $21 million, and three other funding rounds.
10. TravelPerk is led by a team of 12 executive members
The executive team leading TravelPerk is made up of 12 members. Although it's not a large group, they are effective and have produced a proven track record of success. The leadership team is made up of Avi Meir, co-founder, and chief executive officer, Ross McNairn, chief product, and technology officer, Huw Slater, chief financial officer, Jean-Christophe Taunay-Bucalo, the chief commercial officer, Dave Garcia, senior vice president of engineering, Sergio Berna Ninerola, chief technology officer, Brandon Smith senior enterprise account director, and Georgia Polvara, the senior full-stack developer.
11. TravelPerk has a small board of Directors
So far, TravelPerk has one of the smaller boards of any company. Johannes Rech became the single board member and advisor on March 1, 2015, and he has been the only active board member since that time. He is highly regarded for his expertise and business experience to provide quality and knowledgeable advisement. He is the co-founder and chief executive officer of a company called GetYourGuide. He currently sits on the board as advisor of two companies.
12. TravelPerk is powered by a complicated array of technologies
We learned that it takes 82 technologies to provide the power and features for TravelPerk, its website, and its SaaS business solutions platform. It uses these 82 different technologies distributed through 77 technology products. Some of the products at work include jquery, Google Analytics, HTML5, Viewport Meta, iPhone/Mobile Compatible, SSL by Default, and dozens of others. This is an expensive array of technology that drives up the overhead costs of any business. Although it is a complex array of different technologies, they all work together to provide end-users with a seamless product with multiple forces at work behind the scenes.
13. TravelPerk's platform is gaining new customers daily
TravelPerk is becoming a major disruptor in the travel industry. According to the statistics gathered about website visits and use, the company has an ever-expanding customer base. The average monthly visit to the site is 157,120 new and unique visitors. The monthly growth rate for visits is 37.19 percent. The analytics of this data reveals that 24 percent of visitors are from the United States, followed by 20 percent from the United Kingdom, 16 percent from Iran, 15 percent from Germany, and 6 percent from Spain. This is the current information as of April 28, 2021.
14. TravelPerk is reinventing travel
According to LinkedIn, TravelPerk is reinventing travel by giving businesses control over their business travel from booking to managing the amount spent on travel. They provide clients with customer support 24/7 and state-of-the-art technology that helps automatically manage all travel plans and tasks. This makes it easier to book travel plans with less hassle and less time required by the client's staff. It also helps to prevent overspending which saves businesses a lot of money. Companies can get the most out of their travel and save money by using TravelPerk's platform.
15. TravelPerk is expanding its workforce
There are currently 436 employees listed in the TravelPerk workforce on its LinkedIn page. We were curious whether there were any job openings. We learned that there are 32 openings for jobs with the company currently. This suggests that TravelPerk is expanding its workforce by adding so many new positions. Although many of the jobs are located in Barcelona, with some in London, we also saw that there are various openings available throughout the United States in places such as Utah, Florida, and other places with the option to work remotely.
16. TravelPerk is a privately owned business
So far, TravelPerk has not filed for an initial public offering. You won't find shares of the company's stock for sale on any of the world's exchanges, at least not yet. When we tried to investigate plans for TravelPerk, we could find no indication that the owners are even considering going public. They are well-supported by private venture capital groups and have all of the necessary financial resources.
17. TravelPerk has excellent reviews
According to Capterra, a review site that gathers honest opinions from consumers, TravelPerk is a highly rated platform that has received high marks for its ease of use. It is mentioned as one of the best platforms for making it easy to book airline reservations and well for easy to use travel management software for 2020.
18. TravelPerks is used by more than 3,000 clients
Some of the largest businesses in the world use TravelPerks' business solutions to manage their travel planning and expenses. Some of the larger companies include Wise, Glovo, FarFetch, Uber, and others. It has a large client base and the company is continuing to grow and expand, improving its offerings.
19. TravelPerk offers a choice of scalable versions
Companies that are not yet sure whether or not this is the right platform for them can try it out for a while to see if it is the best option. The company offers a free version that offers limited basic features for no charge. It offers a free trial version to provide a few more benefits. Larger businesses can choose from premium packages that offer more features and the Pro package that has the full array of product features and services. This makes it a scalable and customizable platform to meet the needs of almost any type of business. The deployment features Cloud, SaaS, and Web-based TravelPerks benefits. It is compatible in versions that support Mac, Windows, Linux, and Chromebook desktops with Windows and Linux options for On-Premise, and Mobile for Android, iPhone, and iPad use. The platform also provides support in the forms of an FAQ/Forum, Knowledge Base, Phone Support, Email/help Desk, Chat, and 24.7 Live Rep support. They also offer training in the forms of webinars, live online, documentation, videos, and in-person.
20. TravelPerks is not disclosing its current valuation
According to CNBC, TravelPerks executive leadership was asked what the company's current valuation is at as of 2021. The answer was firm and the company is declining to disclose its current valuation at this time. This is because of an agreement that was made with key investors to keep the value of the company private at this time. It is unknown when if ever TravelPerks will disclose its financial status. Since it is not a publicly traded entity, the controlling members of the executive team have the option of avoiding full disclosure.
Written by Allen Lee
Read more posts by Allen Lee