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What does Rocketrip do?
Rocketrip, is a platform which reduces corporate travel costs. The company helps businesses in reducing travel expenditure by incentivizing employees for saving when they travel for businesses. The company is an innovative corporate travel solution which can save organizations with 30% or more on their existing travel expenditure. The company was inspired partly by a platform that Google built internally for managing travel. The company sets real time budgets and rewards employees for beating them by choosing low cost car, flight, hotels choices, early booking etc. It save huge money and is a caulture builder too at the same time.
How much Rocketrip was funded?
The company raised $9M in Series B on June 20, 2016 from Canaan Partners, Genacast Ventures and Bessemer Venture Partners.
Previous funding
$575k on July 3, 2013 from Genacast Ventures and Y Combinator
$2.6M in Series A on February 10, 2014 from Canaan Partners, Y Combinator and Genacast Ventures
$3M in Series A on July 14, 2014 from Canaan Partners, CrunchFund, Genacast Ventures and Paul Buchheit
$2M in undisclosed on September 10, 2015
What is next for Rocketrip?
Rocketrip has new board of director, Alex Ferrara, Bessemer’s New York based partner. The company plans to use the latest funding raised for expanding sales, marketing, research and development. The company was recently named “Top Employee Rewards Solution” in the Citi Smarter Worklife Challenge.
More about Rocketrip
Rocketrip was founded in 2013 by Gillian Tee and Daniel Ruch. It has its headquarters in New York, NY. The company motivates business travelers in saving money on trips by rewarding them with points which can be redeemed for charitable contributions, gift cards, travel benefits and other rewards. For every itinerary, the company generates a personalized “budget to beat” on the basis on real time costs for hotels, flights, rental cars and trains. When employees book under budget, they split the saving with their organization. The company is the market leader in its space and is experiencing a lot of success.
