TripAdvisor Leads $5.2 Million Traxo Funding in Business Travel Push
Photo Credit: Data-aggregator Traxo hopes to use its Series A funding, led by TripAdvisor, to expand into Europe in 2017. Traxo
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As TripAdvisor evolves into more of a booking site than it is today, it makes total sense over the long term for it to get increasingly interested in corporate travel. Business travelers yearn for that elusive perfect trip, too.
TripAdvisor's self-described mission is to create the perfect trip — and business travelers take a lot of those trips.
An exploration of its possibilities in business travel might be behind TripAdvisor's decision to be the lead investor in a $5.2 million Series B funding round of Traxo, which aggregates data, mostly in the corporate travel sphere. For its investment -- the amount of which has not been disclosed — TripAdvisor's Adam Medros, senior vice president of global products, gets a seat on the Traxo board.
Traxo's existing investors, including Thayer Ventures, Advantage Capital Partners and Silver Creek Ventures, and new investor Aristos Ventures, participated in the round, which brings Traxo's total funding to $11.2 million since its founding in 2008.
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