A bit over two years ago I got on a plane to Barcelona to meet with Avi Meir and Javier Suarez, the founders of Travelperk.
Travelperk had started building a business travel platform, allowing companies to manage trips from booking to accounting all in one place - using the world's largest global travel inventory to take the pain out of business travel.
The company was the perfect case for our thesis of consumerization of business services, bringing the benefits of the consumer internet to small and medium sized companies.
It helped that phenomenal people were surrounding the business from day one: Johannes Reck, the CEO of our portfolio company GetYourGuide, introduced us to the founders and was considering joining the board. Alex Finkelstein, GP at Spark Capital and our co-investor in GetYourGuide, was leading the Series A. The original seed investment was led by Robin Klein at Localglobe. Phillip Riese had started advising the founders and would become a potential board member, as had Fritz Demopoulos, the founder of Qunar.
Since we closed the Series A in the summer of 2016, Travelperk has built out its product and added hundreds of customers. The business closed a Series B co-led by our friends at Felix Capital and Target Global in 2017 to support its rapid growth. But good things happen fast when companies are doing well.
And so today Travelperk is announcing a $44M Series C led by Kinnevik, one of Europe's most prominent growth investors, with co-investment from Yuri Milner, Tom Stafford, and existing investors Sunstone Felix, Target, Spark, Localglobe, and Amplo.
There are lots of VCs who are hesitant about celebrating funding rounds. And it's true that financing is not always a necessary and never a sufficient condition for building a great company.
But the path to building a phenomenal business is long and it's good to take these moments to congratulate the team on the hard work that has gone into putting the company on a phenomenal trajectory. And so it's a good day for Travelperk.
We are spending the day visiting Jerusalem with the founders, team members, and board, before sitting down to the board meeting tomorrow. Good times.