founder: Ariel Cohen (CEO), Ilan Twig
roll out: 2015
Headquarters: Palo Alto, California
funds: US$1.5 billion
Valuation: $9.2 billion
Key technologies: Artificial intelligence, cloud computing, machine learning
industry: Tourism, corporate technology
Previous appearances on the Disruptor 50 list: 0
Corporate travel planning can be a headache. Flights, car rentals and hotels can be booked through different platforms. Payments can be made via company cards or can involve reimbursement to employees. Navan (formerly TripActions) is changing the way companies manage travel through an all-in-one platform. The platform can plan trips and provide employees with credit cards. Having everything travel-related on one platform helps with expense management; companies can gain better visibility, save costs, and control expenses.
Since being founded by two veteran entrepreneurs in 2015, Navan has grown to provide travel and expense management services to companies including Heineken, Unilever, Adobe, Netflix, Chime and Canva.Last year, the company doubled its number of unique users, changed its name to Navan, and Acquisition of Indian Tripeur, this is the fifth acquisition in two years. It also has offices in Tel Aviv, London, Austin, Bangalore, Sydney, Paris, Amsterdam, San Francisco and New York.
Like many companies, it also integrates generative artificial intelligence. Navan launched its AI-powered chatbot Ava in May. The assistant can answer customer service questions, book trips, make flight changes, analyze spending data and help the company identify savings opportunities. In June, the company expanded Navan Connect, its expense management and corporate card solutions, so finance teams can use Navan without changing corporate cards.
The companies that are getting a lot of attention are Reportedly targeting IPO next April, adding to its leadership team in recent months.The company named its former chief revenue officer Rich Liu as Serves as CEO of Navan Travel When it rehired Liu in April, the company described Liu as “an expert in scaling companies from seed to IPO and beyond.”
Navan is not immune to the economic uncertainty facing businesses and corporate spending.company Fired 5% of employees In December, there were 145 people. The company also faces more competition as expense management startup Ramp and other disruptors Ramp and Brex are expanding into the travel industry. The company’s last funding round was in October 2022, when it raised $150 million in debt and $154 million in equity, valuing the company at $9.2 billion.
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