NEW YORK — Rocketrip, which offers a business traveler loyalty program, has raised $15 million in Series C funding led by GV (formerly Google Ventures) with participation from existing investors Bessemer Venture Partners and Canaan Partners. To date, Rocketrip has raised $32 million in venture capital. Erik Nordlander, Partner at GV, is joining Rocketrip’s board of directors.
“Rocketrip is addressing a major void in business travel and corporate culture,” said Dan Ruch, CEO of Rocketrip. “With support from GV, Bessemer Venture Partners, and Canaan Partners, we can continue delivering significant value to enterprises and create better experiences for business travelers.”
Founded in 2013, Rocketrip is a loyalty platform that inspires employees to travel smart and earn rewards while doing it. In 2017, Rocketrip’s technology helped companies save an average of $208 per business trip. Rocketrip’s platform predicts the cost of a business trip and rewards employees with a portion of the savings when they book below that target. The company aims to create better relationships between employers and employees by fostering greater mutual respect, reciprocity, and choice.
“Rocketrip’s approach to corporate travel is unique in its ability to align employer and employee incentives when it comes to booking travel,” said Erik Nordlander, Partner at GV. “We were drawn to invest in Rocketrip because it has demonstrated significant savings for its growing customer base, rewarding employees when they book business travel in a more cost-effective way.”
Currently, Rocketrip is collaborating with travel management company (TMC) partners to develop new solutions for managed travel programs. The Series C funding will help Rocketrip build out its enterprise sales team as they continue to bring on more Fortune 1000 and enterprise customers.