SoftBank leads TravelPerk's $104 million fundraising, in a bet that AI will reshape corporate travel
Publishing timestamp: 2024-01-23 07:31:07
Summary
Barcelona-based startup TravelPerk has raised $104 million in a new equity round led by SoftBank's Vision Fund 2. The funding will be used to invest in continued growth and product expansion, particularly in artificial intelligence technology. TravelPerk has rebounded from the Covid-19 pandemic, with revenues growing 70% year-over-year in 2023. The company primarily uses AI technologies to automate tasks involved in corporate travel. The latest funding round lifts TravelPerk's valuation to $1.4 billion. The CEO of TravelPerk sees the company reaching profitability on a monthly basis by the end of 2024 and quarterly profitability by the end of 2025.
Sentiment: POSITIVE
Tickers: 9984.T-JP,
Keywords: venture capital, travel, transportation, softbank corp, business news, softbank group corp, breaking news: markets, breaking news: technology, technology, internet, markets, personal finance, breaking news: business,