Priceline, Ramp sign deal to disrupt archaic, high fee business travel booking model

▤ Summary

Ramp, the expense management company recently valued at $7.65 billion, is moving into business travel through a deal with Booking Holdings Priceline, as the growing number of corporate spend platforms look to retain and attract customers with additional services. Priceline CEO Brett Keller described corporate travel as an "archaic business model" in which the bigger companies negotiate contacts directly with a select set of suppliers, which results in higher rates because of the customer support and service that is then used. The spend management space has become crowded, with fellow Disruptors Brex and Navan, as well as Expensify, Mesh Payments, Airbase and Center competing for market share alongside traditional players like SAPs Concur, making these new additions by Ramp critical to its growth and continued disruption. While a majority of Ramp customers have never raised venture capital, the average size of companies using the platform has more than doubled in the past three years, he said. Sign up for our weekly, original newsletter that goes beyond the annual Disruptor 50 list, offering a closer look at list-making companies and their innovative founders.

▦ Linked Companies

Ramp

$1B+