TripActions, a corporate travel and expenses company, has raised a combination of equity and debt at a post-money valuation of $9.2 billion, up from its prior valuation of $7.5 billion. The funding is a $154 million equity round from investors including returning investors Andreessen Horowitz and Premji Invest, and a $150 million structured financing deal from Coatue.
The deal comes weeks after the Palo Alto-based company was said to have filed confidentially to go public in the second quarter of next year at a $12 billion valuation. Totaling $304 million, the Series G financing has been in the works since at least May, confirming earlier Bloomberg reports that the travel company was seeking financing at a higher valuation.
Other investors in the company include Base Partners, Elad Gil, Greenoaks Capital Management, Zeev Ventures, Lightspeed Ventures and Addition Ventures. As part of the transaction, Premji Invest’s Sandesh Patnam will join TripActions
