Barcelona-based TravelPerk, a platform for booking and managing business travel, has raised $7 million in a Series A round led by Spark Capital with participation from Sunstone Capital and LocalGlobe.
Founded last year by former employees at Booking.com and Skyscanner, TravelPerk’s platform integrates information on airlines and hotels and presents the site in a leisure travel-style UX.
“For too long business customers have been saddled with sky high fees, and inflexible and inefficient products,” said Avi Meir, CEO of the company, who described the site as “one stop shop” for business travel.
With its new funds, TravelPerk plans to triple its team in Barcelona, hiring mostly in its product team with new software developers, DevOps, and QA engineers.
“We are adding more advanced enterprise features such as workflows for approvals and accounting by cost centres. We're also going to add further product verticals, in addition to hotels and flights which we already have,” Meir told tech.eu.
“We’ll be expanding globally, starting with more European countries, including Germany, the UK and Scandinavia, and aiming for Asian and US expansion next.”
TravelPerk will face some stiff competition. Travel giant Booking.com entered the business travel market last year.
However Alex Finkelstein, a general partner at Spark Capital that has joined the board of TravelPerk, said the company’s offering and its founders’ background in travel tech presents a huge market opportunity for it.