TravelPerk Strengths, Domain Expertise, and Key Differentiators
TravelPerk’s all-in-one platform gives travellers the freedom they want whilst providing companies with the control they need. TravelPerk has a large travel inventory alongside powerful management features, 24/7 customer support, state-of-the-art technology and consumer-grade design, all of which is enabling companies worldwide to get the most out of their travel.
TravelPerk Recent Developments
In 2020, TravelPerk has rolled out several new features, including a Covid-19 data tracking tool built using technology acquired via its purchase of risk management startup Albatross in July 2020. Other new offerings launched that year include a value-added tax reclamation service and a carbon mitigation program. The company also opened its tech platform to enable clients and third-party suppliers to build custom integrations and applications using TravelPerk's application programming interfaces.
In 2019, TravelPerk launched a new product known as FlexiPerk that gives business travelers 90% refunds on cancellations on all bookings. FlexiPerk enables any part of a business trip to be refunded, whether it’s a flight, hotel, train, or car.
TravelPerk launched an API-based platform open to customers, partners and developers. TravelPerk wants customers and partners to build and integrate new or existing apps within the marketplace.
TravelPerk Mergers and Acquisitions (M&A) Activities
In July 2021, TravelPerk acquired Click Travel, a travel platform in UK to strengthen its global position. Click Travel over 2,000 SMB clients, including Five Guys, Red Bull, and TalkTalk. All 150 Click Travel staff will join the TravelPerk team, making Birmingham a new hub for the company and bolstering its position in the UK market. This is TravelPerk's third and largest acquisition, after the company integrated risk management startup Albatross and US business travel platform NexTravel, and follows TravelPerk's $160 million Series D funding announcement.
In January 2021, TravelPerk acquired NexTravel to grow its U.S. Footprint. In a move that significantly expands its presence in the U.S. market, TravelPerk has acquired corporate travel booking and management provider NexTravel, bringing more than 700 new U.S. client organizations under TravelPerk's umbrella, along with NexTravel's technology platform and workforce.
In July 2020, TravelPerk acquired Albatross, an early-stage API startup that offers information on post-COVID travel restrictions and local guidelines to travel applications.
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.
Ownership: - x
Number of Employees: 550
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K350, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
TravelPerk Key Enterprise and Cloud Applications
TravelPerk Travel Management, TravelSafe, FlexiPerk
TravelPerk Revenues, $M:
|Type/Year||2020||2021||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
TravelPerk Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
TravelPerk Enterprise Applications Revenues By Functional Markets, $M:
TravelPerk Enterprise Applications Revenues By Verticals, $M:
TravelPerk Revenues By Region, $M
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 Enterprise Applications Revenues, $M||2021 Cloud Applications Revenues, $M|
TravelPerk Direct vs Indirect sales
|Region||Direct Sales||Indirect Sales||Total|
TravelPerk Customers - Breakdown by Geo, Size, Vertical and Product
No. of TravelPerk Customers: 5000
No. of TravelPerk Enterprise Applications Customers: 5000
No. of TravelPerk Cloud Customers: 5000
No. of TravelPerk Cloud Subscribers: x
With the addition of Click Travel’s 2,000+ SME clients, TravelPerk’s UK and European business has been reinforced, increasing the total number of customers to little more than 5,000 after the acquisition. Some of TravelPerk's customers are Workable, Typeform, Adyen, Farfetch, Volotea, TransferWise, Hotjar, Sumup, Ykone, Kantox, Five Guys, Red Bull, Talk Talk, and many more.
TravelPerk Market Opportunities, M&A and Geo Expansions
In April 2021, TravelPerk raised $160 million in a new funding round. The investment comprised of both fresh equity and debt financing. The round was led by Greyhound Capital, with participation from existing investors, and brings the total investment raised to date to $294 million. The funding will be used to accelerate TravelPerk's mission to create the world's most used travel platform, with a particular focus on growth in the US and Europe and on product innovations designed for the changing needs of travelers and small-medium sized businesses post-pandemic.
In July 2019, TravelPerks raised an additional $60M funding in Series C. The funding comes nine months after raising $44 million in Series C, which brings the round to $104M, and the business’ total raised to date to $134M. Investors increasing the size of their Series C commitment are Kinnevik, partners of DST Global, Target Global, Felix Capital, Heartcore, and LocalGlobe.
TravelPerk Risks and Challenges
The travel industry as a whole was hammered by the coronavirus pandemic last year, as governments took measures to curb the spread of Covid-19 across borders. The recovery in the travel industry is not going to be easy and it will be conditioned by the restrictions imposed by the governments. If the travel ban remains it could be disastrous for companies like TravelPerk.
TravelPerk Ecosystem, Partners, Resellers and SI
In September 2020, TravelPerk has launched an API-based platform open to customers, partners and developers. Customers and partners can build and integrate new or existing apps within the marketplace.
TravelPerk has offices in Barcelona, London, Berlin, Miami and Chicago, with which it covers its key markets.
TravelPerk Cloud Infrastructure Insights
Subscribe to read more about:
- TravelPerk Public Cloud and Infrastructure (IaaS)
- TravelPerk Platform (PaaS)
- TravelPerk Application Delivery
- TravelPerk Private Cloud and Data Centers
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).
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