TripActions has raised an additional $300 million in funding, which the travel, card and expense management platform said brings its valuation to $9.2 billion.
The financing round, TripActions’ third in three years, includes $154 million in equity from current and new investors as well as a $150 million structured capital transaction from investment firm Coatue Ventures. Coatue’s chairman Dan Rose is joining TripActions’ board of directors as an observer, and Premji Invest managing partner Sandesh Patnam is joining as an advisor.
“We set out to disrupt a legacy industry full of clunky tech that frustrates employees and leads to inefficient travel and spend processes,” TripActions CEO Ariel Cohen and CTO Ilan Twig, the company’s cofounders, said in a joint blog post on Wednesday. “With this round of funding and our continued growth, we’re doing just that, and what we’ve known to be true internally is becoming accepted as fact: TripActions is the fulcrum; the tipping point; the…
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