TripActions hits $5B valuation after $155M funding round

TripActions Inc. raised $155 million in a series E growth funding round that increased the business travel and spend management platform provider's valuation to $5 billion.

Private equity firm and existing TripActions investor Andreessen Horowitz LLC, Addition Ventures, and investor Elad Gil jointly led the funding round. Other existing TripActions investors such as Zeev Ventures, Lightspeed Venture Partners, and Greenoaks Capital Partners LLC also participated in the fundraiser.

TripActions will use the new funding to enhance and expand its platform, a Jan. 21 statement said.