TripActions, a fast-growing Silicon Valley business travel platform, has landed in Austin to tap into the region’s tech talent pool.
The company, based in Palo Alto, Calif., has opened an office in downtown Austin at 600 Congress Ave. with a 25-person team. It says it plans to double its local headcount by the end of the year.
The Austin office follows TripActions’ recent $155 million funding deal, which was led by Andreessen Horowitz. The investment increased the company’s valuation to $5 billion.
TripActions currently has a 63-person office in Dallas and another 40 remote Texas-based employees. The Austin location will serve as a sales office, supporting the company’s corporate travel and expense management platform.
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“Austin hosts one of the best talent ecosystems in tech. We are planting our flag in Austin and plan to make it a center of gravity in the coming years for our growing sales organization,” says Carlos Delatorre, TripActions chief revenue officer. “Between the world-class universities and the burgeoning tech community, Austin is the place to find diverse and ambitious talent.”
TripActions’ platform lets companies streamline business travel including payments, rentals and bookings. Over the web or a mobile app, users can book trips, change reservations, track travel itineraries, communicate with travel agents and receive real-time notifications.
Last year, the company started TripActions Liquid, a virtual and physical credit card, and built an expenses platform it says makes it possible for employees to never file an expense report again.
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The company has 4,000 global customers including Lyft, Zoom and Netflix. In addition to its Texas offices, TripActions operates offices in San Francisco, New York, Seattle, London, Amsterdam and Sydney, Australia.
Like many travel-related companies, the COVID-19 pandemic dealt a blow to TripActions, which laid off a quarter of its staff. In January, when the company announced the $155 million infusion, it had 750 employees and said it planned to double that over the next year.
“While COVID-19 has challenged the entire travel industry, we are grateful to be emerging during this trying time well-positioned thanks to our customers and the dedication of the TripActions team,” Ariel Cohen, co-founder and CEO, said in January. “Despite the events of 2020, we’ve seen accelerated adoption by companies of all sizes and industries, growing our book of business to over $3.6 billion, and adding our largest accounts to-date.”