Europe-Based Booking Tool Pulls In $21 Million in Funding
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TravelPerk's second round of venture capital funding has nearly tripled its first round. It also came about a year earlier than the company expected to take in more capital, according to marketing VP Gidi Pridor.

The booking and trip management software as a service platform, based in Barcelona, raised $7.5 million in 2015 and announced another $21 million this week. U.K.-based Felix Capital and Berlin's Target Global led the latest round, joined by returning investors from the first round, Spark Capital and Sunstone, as well as by Amplo.

TravelPerk launched in 2015 to incentivize business travelers to save money, but its discussions with travel managers revealed that the more foundational problem lay in the booking and travel management experience, including the incongruity of content available on corporate booking tools and content displayed for consumers. That leads 48 percent of business travelers book outside policy, Pridor said. "At the end of everything, there is a traveler that has options," he said. "If you don't have the best inventory, then you'll be out of the game because the only [users] who would remain are the ones that have to use a tool and have no a choice in the matter."

Read more in Business Travel News.