Ramp Raises $200 Million for Expense and Biz Travel Management: Startup Funding Roundup
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Ramp Raises $200 Million for Expense and Biz Travel Management: Startup Funding Roundup
Ramp, an expense management platform with travel booking capabilities, has raised $200 million in series E funding. Navan, a corporate travel agency, has taken a step toward becoming a public company. Archer Aviation is developing an electric vertical takeoff and landing (eVTOL) aircraft for urban use. The company is also developing aircraft for the U.S. military. Travlounge, which designs roadside rest stops with sleeping pods, has raise $2.9 million (250 million rupees) Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at jd@skift.com if you have funding news. The most recent travel startup to raise $1 billion is Ramp, which raised $ 200 million this week. The latest funding values the company at $16 billion, a jump from $13 billion since its previous fundraise in March and $7.65 billion since the series D extension in 2024. There’s a lot of money going into tech platforms to manage business travel and expenses.
Travel Startup Funding This Week Each week we round up jd@skift.com if you have funding news. Each week we round up travel startups that have recently received or announced funding . Please email Travel Tech Reporter Justin Dawes atif you have funding news.
There’s a lot of money going into tech platforms to manage business travel and expenses. The most recent is Ramp, which raised $200 million this week.
It comes months after TravelPerk raised $200 million, with multiple other companies raising smaller rounds. Also this week: Navan, a corporate travel agency, has taken a step toward becoming a public company.
And flying taxi companies — most recently Archer Aviation — have been raising billions of dollars in their race to operate commercially.
Between Ramp, Archer Aviation, and a small startup, travel companies raised over $1 billion in the past week.
Ramp: $200 Million
Ramp, an expense management platform with travel booking capabilities, has raised $200 million in series E funding.
The latest funding values the company at $16 billion, a jump from $13 billion since its previous fundraise in March and $7.65 billion since its series D extension in 2024.
Founders Fund led the round for the fifth time. Other investors included Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth, and Definition Capital.
Ramp said it has now raised a total of $1.4 billion in equity financing.
The New York City-based company started with a focus on corporate cards and helping clients manage receipts, but it’s been building out tech since 2022 to help client companies book and manage travel.
The company’s Ramp Travel product allows clients’ employees to book travel with inventory from Priceline. The platform also has integrations with TravelPerk, Lyft and Uber for Business. Ramp automatically collects receipts from any bookings with partners, removing the need to submit expenses.
Client companies can set travel policies and manage approvals through the platform.
Ramp last month released a feature that automatically rebooks a hotel if the price drops. It’s one of 270 features that the company has released this year, which the company said were all developed with the help of AI.
Ramp said it has more than 40,000 companies, including CBRE, Shopify, Anduril, Notion, Cursor, Vercel, and Barry’s.
The company said its platform handles $80 billion in purchases annually.
Ramp said the funding will go toward improving the AI-powered product and expanding business, particularly in the U.S.
Archer Aviation: $850 Million
Archer Aviation, which is developing a flying taxi for urban use, has raised $850 million.
The funding comes from a direct offering of 85 million shares of stock for $10 per share.
The company had previously raised nearly $2 billion, including $430 million last year.
California-based Archer is developing an electric vertical takeoff and landing (eVTOL) aircraft called Midnight. It is designed to hold a pilot with four passengers and luggage for urban trips of 20-50 miles at speeds of up to 150 miles per hour. It is powered by six independent battery packs, each supporting a pair of electric engines.
The company is also developing aircraft for the U.S. military.
Archer said in May that it plans to provide air taxi services for the 2028 Los Angeles Olympics and for Team USA. The company last year unveiled plans for an air taxi network in Los Angeles.
The network includes vertiports (eVTOL airports) at Los Angeles International Airport, University of Southern California, Orange County, Santa Monica, Hollywood Burbank, Long Beach, and the Van Nuys neighborhood. The company is also planning to establish a vertiport near the SoFi Stadium, home of the Los Angeles football teams Rams and Chargers. The plan is to begin LA network operations in 2026.
This is in addition to plans for a network at California airports where Southwest Airlines operates, along with five vertiports in the Bay Area.
Travlounge: $2.9 Million
Travlounge, which designs roadside rest stops with sleeping pods, has raised $2.9 million (250 million Indian rupees).
The funding comes from Gokulam Group.
India-based Travlounge says its facilities include tech-enabled sleeping pods, washrooms, cafes, travel-focused markets, and charging stations for electric vehicles. The company has also released an app for trip planning.
The funding will go toward expanding beyond its first two locations in India.