BARCELONA - Business travel management platform, TravelPerk, announced that it has been recognised as the world’s fastest growing Software-as-a-Service (SaaS) company, according to the 2019 edition of SaaS Mag’s acclaimed ranking, the SaaS 1000.
The SaaS 1000 is an annual ranking of the world's top growing SaaS companies. Using a proprietary algorithm, industry publication SaaS Mag ranks the fastest-growing SaaS companies based on hiring trends, growth indicators and the number of employees. According to this algorithm, TravelPerk has achieved 122% growth, making the company the world’s fastest growing SaaS provider over the last 12 months. TravelPerk was ranked 5th in 2018’s SaaS 1000 and is one of only two European companies in the top ten in 2019.
The recognition from SaaS Mag follows a landmark year for TravelPerk. Key milestones for the business in 2019 included:
- Funding - In July, TravelPerk closed a $104m Series C funding round, bringing the total investment in the company to $134m.
- Innovation - 2019 also saw the release of FlexiPerk, a ground-breaking new product that gives business travelers unprecedented flexibility to cancel and get a refund on any booking-hotel, trains, car hire, and flights-at any time, for any reason.
- Inventory - This year TravelPerk has continued to invest in its inventory with an Integration with Trainline, Europe’s largest rail and coach booking platform, and a partnership with Lufthansa Group Airlines to offer direct booking for customers through new distribution capability (NDC) technology.
- International expansion - TravelPerk has also begun an aggressive international expansion strategy, with offices opened in London and Berlin and more to be announced.
Avi Meir, CEO and co-founder of TravelPerk, said: “We created TravelPerk in 2015 because we knew that business travelers needed a dramatically better experience. The industry had been dominated by outdated tech and outdated thinking and we believed there was a big opportunity for a startup that could use technology to give travelers a seamless experience while providing businesses with more control and visibility. The rapid growth we have experienced since then shows that we were right - but we’re not done yet. We have ambitious growth plans for 2020 and we're working on some really exciting innovations that we believe can take business travel into a new era, and drive the next stage of our company growth.”