TravelPerk Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

TravelPerk Strengths, Domain Expertise, and Key Differentiators

The comprehensive platform offered by TravelPerk affords travelers the desired flexibility while simultaneously equipping companies with the requisite oversight. Boasting an extensive travel inventory complemented by robust management capabilities, round-the-clock customer support, modern technology, and consumer-centric design, TravelPerk empowers enterprises globally to optimize their travel endeavors effectively.

TravelPerk Recent Developments

In 2020, TravelPerk unveiled a suite of innovative features, notably including a Covid-19 data tracking tool developed through the integration of technology obtained from the acquisition of risk management startup Albatross in July 2020. Additionally, the company introduced new services such as a value-added tax reclamation service and a carbon mitigation program, enhancing its value proposition to clients. Furthermore, TravelPerk expanded its technological capabilities by opening its platform to facilitate the creation of custom integrations and applications by clients and third-party suppliers, leveraging TravelPerk's robust application programming interfaces.

In 2019, TravelPerk introduced a groundbreaking product named FlexiPerk, designed to offer business travelers substantial flexibility by providing them with a remarkable 90% refund on cancellations for all bookings. FlexiPerk extends its refund coverage to encompass various components of a business trip, including flights, hotels, trains, and car rentals, thereby enhancing the overall travel experience for corporate clientele.

TravelPerk has unveiled an API-based platform accessible to customers, partners, and developers alike. The initiative aims to foster a collaborative ecosystem wherein customers and partners are encouraged to innovate by creating and seamlessly integrating new or existing applications within the marketplace.

TravelPerk Mergers and Acquisitions (M&A) Activities

In January 2023, TravelPerk successfully secured $104 million in a new equity round, prominently spearheaded by SoftBank Vision Fund 2 and reinforced by steadfast support from existing investors Kinnevik and Felix Capital. Notably, this latest fundraising endeavor propels TravelPerk's valuation to $1.4 billion, marginally exceeding the $1.3 billion valuation achieved in its previous financing round conducted a year prior.

In July 2021, TravelPerk strategically acquired Click Travel, a UK-based travel platform, to enhance its global standing. With over 2,000 SMB clients, including renowned names like Five Guys, Red Bull, and TalkTalk, this move strengthens TravelPerk's UK presence. All 150 Click Travel employees will join TravelPerk, establishing Birmingham as a new operational hub. This marks TravelPerk's largest acquisition to date, following integrations with Albatross and NexTravel, and comes after securing $160 million in Series D funding.

In January 2021, TravelPerk executed the acquisition of NexTravel, a strategic initiative aimed at amplifying its footprint within the U.S. market. This pivotal move signifies TravelPerk's proactive expansion strategy, as it assimilates NexTravel's robust corporate travel booking and management solutions. Notably, the acquisition brings over 700 new U.S.-based client organizations into TravelPerk's fold, alongside access to NexTravel's advanced technology platform and talented workforce.

In July 2020, TravelPerk completed the acquisition of Albatross, an emerging API startup specializing in providing comprehensive data on post-COVID travel restrictions and local regulatory frameworks to various travel applications. This strategic move underscores TravelPerk's commitment to enhancing its technological capabilities and offering tailored solutions to meet evolving traveler needs in the wake of the pandemic.

TravelPerk Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying TravelPerk applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of TravelPerk and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified TravelPerk Travel Management, TravelSafe, FlexiPerk customers.

TravelPerk Key Enterprise and Cloud Applications

TravelPerk Travel Management, TravelSafe, FlexiPerk

TravelPerk Revenues, $M:

TravelPerk Revenue Breakdown By Type, $M:

TravelPerk Enterprise Applications Revenues By Functional Markets, $M:

TravelPerk Enterprise Applications Revenues By Verticals, $M:

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TravelPerk Direct vs Indirect sales

TravelPerk Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified TravelPerk Customers

No. of TravelPerk Customers: 5000+

No. of TravelPerk Enterprise Applications Customers: 5000+

No. of TravelPerk Cloud Customers: 5000+

No. of TravelPerk Cloud Subscribers: x

Following the integration of Click Travel’s extensive client base of over 2,000 SMEs, TravelPerk has notably bolstered its presence in the UK and European markets. This strategic acquisition has propelled the total customer count to slightly surpass 5,000. Among TravelPerk’s esteemed clientele are notable names such as Workable, Typeform, Adyen, Farfetch, Volotea, TransferWise, Hotjar, Sumup, Ykone, Kantox, Five Guys, Red Bull, Talk Talk, and numerous others, reflecting the platform's appeal across diverse industry verticals.

TravelPerk Market Opportunities, M&A and Geo Expansions

Following its recent fundraising led by SoftBank Vision Fund 2, TravelPerk has clearly communicated its strategic plan to utilize the raised capital for sustaining corporate expansion efforts, driving product diversification initiatives, and bolstering its workforce through targeted hiring and scaling endeavors.

In April 2021, TravelPerk secured $160 million in a new funding round, consisting of both fresh equity and debt financing. Greyhound Capital led the round, with contributions from existing investors, raising the total investment to date to $294 million. The funds will drive TravelPerk's ambition to establish the premier global travel platform, prioritizing expansion in the US and Europe, and advancing product innovations tailored to the evolving requirements of post-pandemic travelers and small-medium enterprises.

In July 2019, TravelPerks secured an additional $60 million in Series C funding, following a $44 million raise nine months earlier. This brings the total Series C round to $104 million and the company's total funding to date to $134 million. Notable investors increasing their commitment to the Series C round include Kinnevik, DST Global partners, Target Global, Felix Capital, Heartcore, and LocalGlobe.

TravelPerk Risks and Challenges

Diversifying its product portfolio stands out as a pivotal strategy for unlocking further success.

The travel industry faced significant challenges amidst the coronavirus pandemic last year, with governments implementing stringent measures to contain the spread of Covid-19 across borders. The path to recovery for the travel sector is anticipated to be arduous, contingent upon ongoing government restrictions. Prolonged travel bans could pose substantial challenges for companies such as TravelPerk, impacting their operations significantly.

TravelPerk Ecosystem, Partners, Resellers and SI

TravelPerk has strategically expanded its integration partnerships, including prominent names such as Slack, HiBob, Personio, Pleo, Timeshifter, Zoom, Rydo, Spendesk, Payhawk, and numerous others.

In September 2020, TravelPerk unveiled an API-based platform accessible to customers, partners, and developers. This initiative empowers customers and partners to seamlessly build and integrate new or existing applications within the marketplace, enhancing the platform's versatility and value proposition.

TravelPerk strategically maintains operational hubs in prominent global centers including Barcelona, London, Berlin, Miami, and Chicago, strategically positioning itself to effectively serve and engage with its key target markets.

TravelPerk Cloud Infrastructure Insights

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• TravelPerk Public Cloud and Infrastructure (IaaS)
• TravelPerk Platform (PaaS)
• TravelPerk Application Delivery
• TravelPerk Private Cloud and Data Centers

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: