Oct 13 (Reuters) – U.S. company travel and expense tech startup TripActions on Wednesday mentioned it raised $275 million at a valuation of $7.25 billion, its second main fund elevating occasion introduced this yr.
TripActions made a powerful comeback from a pointy downturn in enterprise as a result of coronavirus pandemic final yr that compelled it to put off 1 / 4 of its employees. It has raised $780 million over the course of the pandemic, in line with the corporate.
The newest spherical was led by San Francisco-based enterprise capital agency Greenoaks.
TripActions mentioned that it greater than doubled its travel finances underneath administration – the quantity of travel corporations guide by TripActions – between February final yr to the tip of July this yr.
TripActions competes with American Express Global Business Travel and Concur Travel. Last yr the corporate launched a bank card referred to as TripActions Liquid and constructed an bills platform that makes it doable for workers to by no means file an expense report once more.