Lufthansa Group has become the first airline company to invest in business travel platform TripActions, kicking off a strategic partnership.
The investment – made through the Lufthansa Innovation Hub – comes as TripActions continues to expand into Europe after opening offices in London and Amsterdam in 2018. It marks Lufthansa’s fourth investment in a tech company and closes a Series D funding round with more than US$250 million raised at a valuation of US$4 billion.
TripActions was shortlisted for Best Self-Booking Tool at the 2020 Business Travel Awards.
According to the company, the investment from Lufthansa adds to its global momentum and supports its growth into the UK. It claims to have seen 1,000 per cent growth in the country and predicts a doubling of employee headcount in the market 2020.
The two companies plan to collaborate to shape the distribution and corporate retailing landscape. They already partner on NDC, with TripActions connecting to content via Lufthansa’s API.
Tamur Goudarzi Pour, CCO of Swiss and senior vice president of revenue management and distribution at Lufthansa Group Hub Airlines, said: “We are excited to enter into this strategic partnership with TripActions to foster modern airline retailing to the benefit of our corporate customers. Jointly we aim to develop a unique customer experience and are committed to shaping the industry through our joint distribution innovation.”
TripActions co-founder and CEO Ariel Cohen (pictured, left, with co-founder and CTO Ilan Twig) added: “It’s about time that companies in Europe no longer have to compromise with antiquated corporate travel management products and services. We’ve demonstrated in the US that our state-of-the-art travel management technology paired with our best-in-class travel agency service is the only choice for organisations and their road warriors. Our partnership with forward-thinking supplier partners like Lufthansa will further fuel our rapid expansion by empowering more enterprises and their travellers to seize travel as a strategic lever for growth.”
tripactions.co.uk; lufthansagroup.com