Travel management startup TravelPerk has raised $200m and hit a valuation of $2.7bn as it looks to deepen its expansion into the US.
The Series E round was led by Atomico and featured new investors Sequoia Capital and EQT Growth, alongside General Catalyst and Kinnevik. The round takes total funds raised to more than $700m, according to Dealroom.
On Tuesday, TravelPerk announced it had also acquired Swiss expense processing company Yokoy, which Sifted ranked as the fastest growing startup by revenue in Central Europe last year.
Its raise comes just a year on from the startup raising a $104m Series D extension, from Kinnevik, SoftBank and Felix Capital. 2024 saw funding for travel tech companies bounce back, hitting $1.3bn, after falling to $772m in 2023.
Barcelona-based TravelPerk offers a platform for managing business travel, including booking and expense tracking. The company has more than 1,500 employees, according to LinkedIn.
The startup is not yet profitable, but says it has annualised revenue of $200m, which has grown 50% per annum over the past two years.