TripActions Raises $275M AT $7.25B Valuation

TripActions | October 14, 2021

In less than a year, TripActions has secured a second massive funding round – this time $275 million in Series F growth funding.

The round was led by Greenoaks Capital with participation from prior investors Elad Gil, Base Partners and all key existing financial investors and values TripActions at $7.25 billion on a post-money basis.

The funding comes less than nine months after TripActions' Series E round of $155 million in January. The travel management company's total funding to date is nearly $1.3 billion.

Is an IPO coming soon for the six-year-old company? Michael Sindicich, general manager of TripActions Liquid, the company’s payment and expense management solution, says while an IPO would be a “natural fundraising opportunity and another milestone in our growth,” it is not planned for the near future.

“We’ve got quite a lot of cash. We’re making great revenue. We are not in any rush to take the company public at this time,” Sindicich says. The vote of confidence from investors, he says, confirms TripActions’ belief that travel and expense management is “ripe for a tech makeover.”

Despite the global impact of COVID-19 on travel, TripActions says it has now exceeded pre-pandemic levels in terms of bookings and revenue and has more than doubled its aggregate travel budget under management from February 2020 through the end of July this year.

The gains are due in part to a focus on acquiring new enterprise customers, targeted with the launch of TripActions Enterprise Edition in September 2020. Clients include Heineken, Crate & Barrel, Snowflake, Thomson Reuters and Adobe.

“We were there for these customers, they were switching from legacy travel agencies and booking tools, legacy expense platforms, because we were innovating, we were supporting, we were adapting to the way the new world would operate moving forward and that gave them a lot of confidence to actually make a change.”

Michael Sindicich, general manager of TripActions

Also adding fuel to TripActions' growth in the last 18 months: the launch of Liquid in February 2020, first as a payment solution and then in October 2020 adding expense management tools.

Sindicich says transaction volume is similar for Liquid as for core travel, and more than 90% of the new companies TripActions is bringing onboard use its full suite of solutions for corporate travel, expense, spend and payment management.

“Seventy-percent of expenses happen while employees are on trips,” he says.

“So we’re learning about the power of the end-to-end solution. We built Liquid as a separate team in the beginning... and are now seeing that both platforms together, it’s a one-plus-one-equals-three type of situation.”

Along with continuing to develop these products, TripActions will accelerate development of Lemonade, its personal travel booking solution that launched in October 2020. Lemonade gives employees at TripActions’ client companies’ access to negotiated rates and exclusive deals, notifications about COVID requirements and around-the-clock support for their leisure trips. 

The company is also continuing to develop TripActions Team Travel, a self-serve solution that launched in June to facilitate gatherings of distributed employees. Earlier this month it added support for meetings and events to Team Travel, leveraging the capabilities it gained with its acquisition of Reed & Mackay in May.

TripActions will also add staff globally, expand its efforts in Europe, the Middle East and Africa – Europe now represents 30% of TripActions’ business - and, says Sindicich, continue to look for merger and acquisition opportunities.

“We’re always looking for companies that would make sense to acquire and work with and add to the portfolio so this could be another deployment of this capital as well,” he says.

“There’s not a prospect we are announcing or have in mind right now, but it would be natural for us to also look at other opportunities as well since we see Reed & Mackay is working so well for us.”


The travel industry is extremely dynamic and fast-changing sector. Tour operators and activity providers need to keep pace with the new travel trends. Tour companies, who recognize new travel trends on time, can take advantage of new opportunities. We collected relevant statistics only for you, tour operators and activity providers, just to show the importance of the changing environment.


The travel industry is extremely dynamic and fast-changing sector. Tour operators and activity providers need to keep pace with the new travel trends. Tour companies, who recognize new travel trends on time, can take advantage of new opportunities. We collected relevant statistics only for you, tour operators and activity providers, just to show the importance of the changing environment.

Related News


Travelport Enters into a Strategic Collaboration with Amazon

Travel, Travel agencies, Travel suppliers, Travel booking experience | June 21, 2021

The collaboration focuses on improving the Travelport+ platform by using AWS technology to increase processing capacity, speed up content delivery, and enhance customization capabilities in the booking experience. The global platform that links travel agents and suppliers, Travelport, will be moved to AWS. In addition, Travelport will rely on AWS Managed Services to offer trusted operational expertise to improve platform efficiency and security. “By utilizing the widest and deepest set of cloud capabilities and AWS’s proven global infrastructure, Travelport can improve the performance of its platform and continue to create innovative ways to simplify the trip booking experience,” said Adam Selipsky Incoming CEO of Amazon Web Services. We look forward to collaborating with Travelport to assist the travel industry continue to develop as people across the globe begin to return to travel.” AWS’s established global infrastructure and security are designed to meet the needs of businesses that handle extremely sensitive data, such as financial institutions and travel companies. “The travel sector has failed to keep up with the speed of change in digital retail,” said Greg Webb, CEO of Travelport. This historic collaboration is mainly intended to solve this issue. In addition, AWS’s retail history qualifies them to optimize digital retail platforms, simplify complicated environments, and allow game-changing innovation in the travel retailing sector. As a result, we will build a more straightforward, brighter, and better future for travel retailing with AWS as our chosen cloud partner.”

Read More


Cubic Transportation Systems to Provide Next-Generation Fare Payment Technology to Port Authority of New York and New Jersey

Cubic Corporation | January 12, 2022

Cubic Corporation announced that its Cubic Transportation Systems (CTS) business division was awarded a second contract from the Port Authority of New York and New Jersey to continue providing and updating Port Authority Trans-Hudson’s (PATH’s) next-generation fare payment system. The investment will bring the next generation of contactless fare payment and collection technology, allowing riders to “tap and go” with their mobile devices and credit/debit cards.The PATH system connects New York and New Jersey. As part of the new contract, CTS will provide PATH with Cubic’s fare payment back office to centralize automated fare collection on conventional public transport modes. The back-office technology also offers passengers a single account to manage all their travel needs, transforming PATH into an account-based system similar to those utilized in Chicago, Brisbane, Australia and more. “PATH is continually searching for innovative ways to enhance the travel experience for all of our riders,With this new system, we’ll be adopting the most current and effective technology to advance that goal and make for a more seamless experience at the turnstile.” -PATH Director Clarelle DeGraffe. The first phase of the contract consisted of readiness efforts for the full implementation of the contactless payment system, such as gate upgrade kits and upgrades to the field network and infrastructure. Once complete, PATH’s convenient payment system will function similar to the Metropolitan Transportation Authority (MTA)’s OMNY system in New York and the Oyster system in London. These more flexible innovative features will ultimately enable PATH to more seamlessly integrate the system with mobility services such as bike share, scooter hire and tolling in the future. “Our aim is to be a global mobility technology provider that makes cities easier to navigate for locals, business travelers and tourists alike. This award showcases our proven track record to support a full range of needs for large transportation agencies. With the new additions to the fare payment system, PATH can finalize its implementation and continue to create a world-class, customer-friendly system for riders,” -Jeff Lowinger, president, CTS. The system will be fully deployed by early 2024 and will replace PATH’s legacy SmartLink payment system. To learn more, visit About Cubic Corporation Cubic is a technology-driven, market-leading provider of integrated solutions that increase situational understanding for transportation, defense C4ISR, and training customers worldwide to decrease urban congestion and improve the militaries’ effectiveness and operational readiness. Our teams innovate to make a positive difference in people’s lives. We simplify their daily journeys. We promote mission success and safety for those who serve their nation. For more information about Cubic, please visit or on Twitter @CubicCorp.

Read More

Skal International Stands Strong with Its Membership Despite Pandemic and Its effects to the Travel & Tourism Industry

Skal International | September 14, 2020

The Pandemic hit the travel and tourism industry the hardest around the globe. During this most difficult time, Skål International has been able to work on successful retention with its 350 Clubs in over 100 countries, recruit new members and even launch new clubs. 'The Pandemic has reiterated the fact that Skål International plays a vital role in connecting people, providing information, assisting members' careers, and furthering their industries or professions. As technological, social, and economic shifts change how people work and engage with each other, we in Skål International are finding innovative ways to connect with future and potential members' said Daniela Otero, CEO - Skål International.

Read More