The company was most recently valued at $1 billion in November as part of a $154 million Series C, which Andreessen Horowitz also led.
. He said current corporate travel vendors and travel agents may have 50 years of market experience on Cohen and Twig, but TripActions is easier to use and less of a headache for the end user: the employees.TripActions is the latest in the parade of startups raising late-stage funding rounds in close succession, with credit card startup Brex and identity management vendor Auth0 among the growing pool.
, aggressively pursued the team. George even sent Cohen pictures of his children to help"soften" Cohen during negotiations, according to George's account at Tuesday's dinner.Cohen wanted to keep the board small, he said, and so he and Twig weren't planning on bringing on new investors. Andreessen Horowitz led the $154 million round in November, and had access to the team's data and growth statistics that Cohen believes convinced them to up the ante.
With another $250 million on the balance sheet, Cohen believes that TripActions will have enough cash on hand to accelerate the team's go-to-market strategy and bolster the team's ambitious hiring goals. According to Cohen, TripActions has $1.1 billion in travel expenses under management between 2,000 customers.
"We think about how many customers do we have, are people happy, and are users getting the right service, but these numbers are real," Cohen said."We are really saving them and that's why they're coming to us."
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