TripActions, one of the most well-capitalized travel startups in Silicon Valley, has raised yet another round of capital valuing the corporate travel manager at more than $1 billion.
Andreessen Horowitz co-founder Ben Horowitz will join TripActions’ board of directors as part of the startup’s $154 million in Series C funding. Lightspeed Venture Partners, Zeev Ventures and SGVC also participated in the round.
Co-founders Ariel Cohen and Ilan Twig said TripActions’ $236 million raised to date, as well as its new “unicorn” valuation, is justified by its 700 percent annual growth rate and more than 1,000 customers.
“We mean it when we say our solution is so good we want to make sure we are bringing it to as many companies, as many employees as possible,” TripActions’ CEO Cohen told TechCrunch. “The main reason to raise more money is just to continue to go for that as fast as we can.”
The Palo Alto-based company provides a corporate travel platform that integrates with company HR and expense systems.