Rocketrip Raises $3M in Series A-1 Funding
Summary
Rocketrip, a NYC-based platform to save companies money on travel expenses by rewarding employees for cost-saving behavior, raised $3m in Series A-1 funding.The company, which had closed a $2.6m in a Series A round in January 2014 led by Canaan with participation from Genacast Ventures, Y Combinator, and other investors, intends to use the funds to accelerate product development and sales efforts.Led by Dan Ruch, Founder & CEO, Rocketrip provides a travel management platform to save companies money on travel expenses by motivating employees to save costs.Employees are set free to book using their favorite travel websites and are rewarded for booking under budget by sharing a percentage of the savings in gift cards for major retailers.It provides employers with insights and analytics on company spending, savings and employee travel behavior, giving them the ability to optimize their travel policy and rewards program.
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