![]() ![]() |
“The Best Experience in Business Travel” |
Founded: 2015 in Palo Alto, USA
Category: Travel Primary office: Palo Alto, CA (USA) Core technical team: Palo Alto, USA Status: Private Employees: 1,400 Amount raised: $1.2 billion (8 rounds – February 2020) |
OVERVIEW
PERFORMANCE METRICS
ACHIEVEMENTS
|
Sells
- Access to platform for organizational travel management
- Data for corporate insights – e.g., expense tracking, policy enforcement
- Online Business Marketplace to connect corporate clients with a large ecosystem of travel and non-travel business support services
Channels
- User-friendly Interface – Online, Mobile Apps (iOS, Android)
- NDC- enabled platform providing direct connection to major Airlines (United, Lufthansa)
- Cross-border operation across 4 countries
Competencies
- Founder-led Management team with expertise in consumer user friendly interfaces
- Cloud computing/Artificial Intelligence/Machine learning
- Environmental responsibility – provides customers with details of carbon emissions of various travel plans
Resources
Assets
- Strategic partnerships – major Airlines (e.g. Delta, United, Lufthansa Group), Radisson chain of hotels, Rental car suppliers, Expedia, Priceline, Affiliate Network, etc.
- Largest travel itinerary inventory – integrates with third party booking websites
- Direct platform integration with Uber and Lyft for seamless travel experience.
- Information security policy (version 1.7), accessible through company website
Processes
- 24/7 live customer service support with proactive travel expertise – guarantee of rapid response to inquiries
- Rewards program to drive engagement and loyalty
- Highly detailed flight itinerary to aid informed decisions – flight performance, flight amenities with cabin imagery, color-coded compliance with company policy checks, etc.
- Centralized billing and bill-back options
- Fast booking experience – takes average of 6 minutes from start to finish when booking travel plan (instead of a 60-minute timeframe through traditional booking approaches)
- Cybersecurity – TLS and multi-layered encryption, Amazon AWS, two-factor authentication (for sensitive data), data retention, real-time auditing, ongoing monitoring, 3rd party testing, redundancy, recoverability, 99.9% uptime
Priorities
- Grow diversified workforce
- Increase travel plan offerings on the platform
- Increase Airline Partnerships
- Increase Cross-border operations/drive global expansion
Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely
- Apply big data analytics to produce information about users, suppliers and customers and suggest questions
- Automatically extract the information a user or a customer wants from a vast amount of information
- Build and deploy unique and difficult to imitate skills and capabilities to select, combine, and use the resource combinations that create and capture high company value
- Increase sales by applying big-data analytics to produce information about users, suppliers and customers
- Continuously improve the user interfaces and applications that directly influence the entirety of the customer experience including personalized content, quality messaging, and the delivery and returns process
- Continuously seek and receive funding to support the company scaling master plan and improve its brand in the marketplace
- Offer a variety of complementary products and services to each market
- Increase profitability by enforcing policies and procedures for resource configuration, production and coordination, information search and gathering, bargaining, and accountability and enforcement
References
Crunchbase. 2019. TripActions. https://www.crunchbase.com/organization/nextdoor#section-funding-rounds
Mascarenhas, N. 2019. TripActions raises $250M at $4biliion valuation in largest round to-date. [online]. Crunchbase News. https://news.crunchbase.com/news/tripactions-raises-250m-at-4b-valuation-in-largest-round-to-date/
TripActions website. https://tripactions.com/
Owler. 2019. TripActions. https://www.owler.com/company/tripactions
Contributors
- Yinka Olanrewaju-Olawepo
- Dan Craigen