TripActions is scaling up with a Silicon Valley OG on its board
TripActions ($TRIPACTIONS) is out to solve one of the most vexing, frustrating, misery-inducing parts of corporate life: expense management and documentation.
The Silicon Valley startup has more than $480 million in funding thanks to investors in its most recent round led by Andreessen Horowitz with participation from Zeev Ventures, Lightspeed Venture Partners, and Group 11, as well as one of the tech game's OGs on its board in Ben Horowitz. And, its data highlights trajectory that should intimidate legacy competitors whose user interface alone should make them vulnerable to a handset-based apps.
TripActions' adoption appears to be growing steadily. Our Apple ($NASDAQ:AAPL) App Store Ratings Count tracks how many people are providing ratings through the Apple platform - unlike a number of other apps, TripActions' user base is driven more on Apple than over Google app platforms - and has grown more than 150% over the last six months.
Part of what's driving both growth and headcount is likely the $150 million round TripActions took on less than a year ago, but also having a client roster that includes other top West Coast tech companies like Lyft ($NYSE:LYFT), Twilio ($NYSE:TWLO) and Dropbox ($NASDAQ:DBX). Now, it's staffing up like it, too, and TripActions has boosted job postings more than 22% over the last six months.
Expanding TripActions' offerings into new areas, like executive travel services, will help it develop stickiness among corporate decision makers - who are increasingly burdened to get done more on the fly. And having an app that lets them also book travel and hotels should come in handy - so TripActions' data and its strategy has positioned it for a bright future.
Correction: An earlier version of this article mis-stated overall funding and TripActions' most recent investors.
About the Data:
Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.