Back on January 1st, I knew that 2024 was going to be a big year for TravelPerk. We’d made incredible gains across the business in 2023, and we were starting the year with a clear focus. If I made New Year's resolutions it would say: Customer Love and Growth (and maybe less social media).
3 weeks later, we were off to a flying start with a $104m Series D1-Extension, welcoming SoftBank to our board. And now, just as we hit the midpoint of the year, we’ve got even more to celebrate: backed by an additional $135m in capital via credit facilities from Blackstone and Blue Owl Capital, we are thrilled to announce that we have acquired AmTrav, a US-focused, tech-first travel management platform.
AmTrav co-founders Jeff and Craig founded the business 30 years ago in their University of Michigan dorm room and transformed it into a US leader in business travel. Whilst getting to know them, it was clear to me that they share the same dedication to innovation as TravelPerk. Like us, they are customer-obsessed. Philosophically, we are completely aligned on our approach of leveraging AI and technology to make traveling for work simpler, and smarter. Moreover, our culture and values are in sync. For TravelPerk, culture has always been a part of our operating system so we are glad AmTrav shares the same obsession to provide a seven star experience to our customers.
We’re excited to join forces with Jeff, Craig and the team, and build upon our mutual relationships in the business travel space so we can keep elevating the experience for our customers. Both brands will operate independently in the near term to ensure continued seven star service to both our customers. We will have more exciting news to share on all the product and technology innovation that’s coming for all of our customers as a result of the powerful partnership. In the meantime, we’ve already been heads down building out our TravelPerk US product so that travelers get the most out of every trip. In case you missed it, here’s just a few of my favorite recent releases:
And there’s a lot more coming very soon - from more options to earn loyalty points with your favorite hotel brands, to being able to seamlessly redeem rewards when booking flights.With our team size in the US now doubled through this acquisition, and with our 24/7 human traveler assistance for US customers, we cannot wait to transform the world of business travel in the US, and bring our seven star experience to even more customers. With still half of the year left to go, and I may have some more exciting news to share later this year, I’m very excited for TravelPerk in 2024 and beyond. We’re just getting started!
TravelPerk Co-founder & CEO
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