TripActions raises $275 million

Corporate travel management and payments start-up TripActions has closed a $275 million Series F round, valuing the company at $7.25 billion. The latest round was led by Greenoaks with participation from the key existing investors including Elad Gil, Base Partners, Andreessen Horowitz, and Lightspeed Venture Partners.

In a dramatic turn of events, TripActions went from $0 revenue and laying off 300 employees in March 2020 to closing two fundraising rounds over the past three months and raising $555 million this year.