Just four years from its founding, business travel platform TripActions has raised a Series D round of $250 million.
The company’s valuation is now put at $4 billion. This latest investment comes less than eight months after TripActions' Series C round last November which brought in $154 million.
Total funding to date is more than $480 million.
Like the Series C, this round is being led by Andreessen Horowitz (known as a16z) as part of its new $2 billion late-stage venture fund announced in May that managing director Scott Kupor wrote in a blog post is intended for companies “executing on unusually big visions for emerging categories.”
Additional participation comes from Zeev Ventures, Lightspeed Venture Partners and Group 11.
TripActions says it has had 5x year-over-year growth and now manages more than $1.1 billion in annual travel budgets for more than 2,000 customers around the world, including WeWork, Lyft, SurveyMonkey, Complex Networks and others.
One area slated for future development - alternative lodging.
“It’s definitely going to be a future investment of TripActions to go deeper there in terms of how we show alternative lodging in the user experience,” Cohen says.
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