In order to expand corporate travel offerings, Netherlands-based corporate travel management platform Roadmap has raised $4.6 million in Series A funding. The round was led by Newion Investments with participation from Roadmap founders.
Roadmap was founded in April 2015 by CEO Jeroen van Velzen, CCO Koen Bavinck, and COO Markus Emmer with the purpose of enhancing the travel experience for business travellers. The startup aims to improve savings for businesses and increase the safety, productivity, and satisfaction of travellers.
Roadmap CEO van Velzen says the aggregated travel spend of customers on the platform exceeds $3 billion, and “the adoption and engagement numbers of the app are twice the industry standard.”
The gap between consumer technology at hand (like Booking.com, Skyscanner, TripAdvisor, Google Maps) and corporate travel technology available is gigantic and ready to be disrupted.
“The Roadmap team grabbed an opportunity to become the preferred partner for Fortune 500 companies and is acknowledged as a thought and product leader in travel experience technology,” commented Patrick Polak, founder and managing partner of Newion. “The product is truly unique in its kind, ready to disrupt corporate travel. We are very excited to work with the team and expand the leadership position within the coming years. Newion is impressed with the top tier customer base and astounded by the positive customers reviews of Roadmap,” he added.
The company will use newly raised funds to further develop its mobile product – which is connected to some of the largest global travel agencies and suppliers – and grow its marketing and sales team.
In the corporate travel space, Roadmap competes with Rocketrip and TripActions, which recently secured $15 million and $51 million, respectively.