Troop has secured $8m (£5.9m) in Series A funding from several investors to accelerate the success of its meetings management platform.
The round of funding was led by Steve Singh of Madrona Venture Group, EPIC Ventures, Conexo Ventures, All Iron Ventures, Plug and Play Tech Center, Top Seeds Lab and Founders Factory.
Travel industry leaders such as Trivago co-founder Rolf Schromgens, former Egencia president Rob Greyber, former Orbitz CEO Barney Harford and former SAP Concur presidents Jim Lucier and Mike Eberhard also invested.
The company’s meetings management platform makes planning corporate meetings and events easy and transparent, Troop says.
“When we started Troop, we set out to do things differently,” says Troop co-CEO Dennis Vilovic. “Instead of optimising for how the travel industry sells, we evaluated what business travel managers at an enterprise need. They need ease of use, data on locations, ability to optimise for a broad set of goals including sustainability, spend and timing, and most importantly, the ability to collaborate with colleagues. As we grow the platform to include deep integrations with booking and expense, Troop will enable an entirely new and disruptive approach to corporate travel.”
Singh, who now serves as chairman of Troop’s board of directors, adds: “As companies around the globe embrace a distributed work model, the need for groups to get together is increasing. Planning, booking and running meetings need to be easy, whether the meeting is a five-person meeting in a corporate office, a hybrid meeting where some attendees are travelling while others are not, or a large conference at traditional venues. Troop is a cloud-native platform that seamlessly integrates with modern communications services as well as the travel-related content required to host successful events.”
The funding round comes as Troop continues to see its revenue rise as remote teams come together for in-person sessions and as business travel picks up.
