I met the Travelperk founders Avi Meir and Javier Suarez in 2016 through an introduction from Johannes Reck, co-founder and CEO of our portfolio company GetYourGuide. It was ten days after our first daughter, Charlotte, was born and I had to fly to Barcelona to meet these guys and here's a shout-out to my wife for being amazingly supportive in these situations 🤟🏻😍🚀
Avi and Javier were the real deal - serial entrepreneurship in travel, massive domain expertise from their time at Booking.com, the passion and ambition level to match ours, a sense of purpose. In business travel, companies have two bad options: either antiquated enterprise agencies that are both crappy and expensive, or a mess of consumer tools that result in a flurry of invoices, payment methods and general confusion. Travelperk fills that gap - it hides the complexity from the traveller by offering a complete end to end solution and not just a sexy interface (it also has a sexy interface). Its simple purpose is to "fix" business travel. We joined the $7M Series led by Alex Finkelstein at Spark Capital (Medium post from June 2016).*
In the two years since our investment, Avi and Javier have put together a phenomenally capable team in Barcelona with some great hires from Skyscanner, Booking, and others. Demand has grown more quickly than forecast. Customers now include Transferwise, Typeform, Outfittery, GetYourGuide, CityJet and many more. Charlotte's grown a lot since 2016, but not quite at the 1,200% YOY rate that Travelperk has.
The new $21M Series B is led by our friends at Target Global and Felix Capital. Sunstone participated above pro rata. The round brings total raised for Travelperk to $30 million and sets the company up for scale: scaling team (engineers, support, product management, sales), accelerating internationalization, and opening a slew of new markets.
We're thrilled to continue supporting Avi and Javier - thanks very much for having us along on your journey!
* The seed round was led by Robin and Saul at Localglobe. We would have preferred investing at seed, but didn't see the company back then.