TripActions was founded in March 2015 by Ariel Cohen and Ilan Twig. In a December 2019 interview with the Wall Street Journal, CFO Thomas Tuchscherer stated that “getting the company ready for an IPO is a prospect.” These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
TripActions operates a corporate travel management platform. The company has raised approximately $600 million in Venture Capital funding from investors including Vista Equity Partners, Greenspring Associates, Andreessen Horowitz, Group 11, Lightspeed Venture Partners, and Zeev Ventures. Per company press releases, TripActions last raised $125 million in June 2020 in the form of convertible debt.