TravelPerk acquires AmTrav to accelerate US expansion and announces new $135m backing from Blackstone and Blue Owl
Summary
None Global SaaS leader TravelPerk accelerates US expansion with strategic acquisition; US to become companys top revenue-generating region None AmTravs highly localized tech platform doubles TravelPerks US revenue and expands its footprint to include offices in Boston, Chicago, Los Angeles and Miami None TravelPerk has raised $240m of capital in 2024 from leading investors Blackstone, Blue Owl, and SoftBank Vision Fund 2BARCELONA & CHICAGO, June 18, 2024--(BUSINESS WIRE)--TravelPerk, the hyper-growth global business travel management platform, announced today its acquisition of the industry-leading United States company AmTrav, doubling down on its expansion in the US.Chicago-based AmTrav, founded by two friends in their University of Michigan dorm room, has been at the forefront of innovation and thought leadership in the business travel space for the past 30 years, achieving many "firsts". "Im thrilled to welcome Jeff, Craig and AmTrav to the TravelPerk team, as they bring a shared dedication to innovation and providing solutions that customers love. And with the financial backing of world-class investors in Blackstone and Blue Owl, in addition to SoftBank earlier this year, were exceptionally well positioned to continue to invest in industry-leading technology and our global growth. The Companys impressive growth is a testament to the strong execution by the TravelPerk team, and the tremendous greenfield opportunity in the SMB travel space. This financing illustrates Blackstones continued thematic investment in the travel sector, and our focus on backing fast growing technology businesses.