Travel returned with a vengeance in 2022—TripActions data showed a 6x year-over-year increase in bookings this fall. Fortunately, we remained one step ahead of the crush with new products and upgrades to offer the absolute best experience in corporate travel and expense management on the planet.
TripActions turned 7 this year! In September, we relocated our Palo Alto headquarters to a new building and designed a nuanced environment optimized for employee productivity, teamwork, and connection. In celebration of our team’s diversity, we also introduced the Belong: DEI Council—a group of 20 TripActions employees who collectively help further the company’s DEI strategy and foster collaboration across employee resource groups.
For these efforts and more, TripActions was recognized as a top workplace by both the San Francisco Chronicle and Comparably; as one of the best tech startups in Palo Alto by The Tech Tribune; and as one of the best places to work in Austin by Built In Austin.
The TripActions Group grew this year with three acquisitions: Comtravo, the market-leading TMC serving the German, Austrian, and Swiss (DACH) and Scandinavian regions; Resia AB, a leading TMC in Scandinavia; and Atlanta Agencia de Viajes, S.A., a high-end Spanish corporate travel, meetings and events company. Including Reed & Mackay, that’s four Europe-based acquisitions in the past 18 months, for those keeping count.
This year, TripActions also announced its Series G financing at a post-money valuation of $9.2 billion and secured$400M in credit facilities to accelerate the expansion of our customer base. Since early 2020, TripActions has recorded a 2x-plus valuation increase, validating the company’s choice to double down on travel and payment innovation during the peak of the pandemic.
In addition, TripActions teams launched dozens of new features and products in 2022. Auto-Itemization, for example, leverages AI and machine learning to automatically assign individual line items on a receipt to expense categories. And global rapid reimbursements enable quick reimbursements for out-of-pocket expenses made in nearly 30 currencies across more than 45 countries.
None of this would be possible without our trusted partners and suppliers, along with the travel managers, corporate leaders, and business travelers who trust us with their corporate travel and expense management.
We’re thrilled to be recognized for our commitment to powering in-person connections, and we’re proud of the accolades we’ve received for innovative tech solutions in spend, travel, and expense management. These accolades include recognition in the Okta Business at Work Report, Forbes Fintech 50, and Skift Idea Awards. In addition, TripActions was once again ranked the #1 solution for travel, expense, and spend management by G2.
What’s most satisfying, however, is how our customers around the world used TripActions tools and technology to get their teams back together for those in-person connections that are at the heart of why we do what we do.
We can’t wait to work alongside all of you in the new year!
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