The deal is a nice landing for startup Tripbam, which helps travel managers track prices. The giant in corporate travel software, SAP Concur, has to watch its back as upstars like Emburse become assertive.
The companies did not disclose the price or terms of the deal. Tripbam raised a venture-backed startup about $1.5 millionaccording to Crunchbase.
Tripbam believes its software can allow corporate travel managers and event planners to shop across multiple airlines and hotels for reservations, taking advantage of price fluctuations as they occur. If the price of a refundable reservation drops, the software may enable the buyer to rebook at the new, lower price. The firm claims that this process provides significant savings on a significant number of searches.
Tripbam also helps companies audit their itineraries. Corporations often hire travel managers to negotiate volume discounts with airlines, hotels and other travel providers, usually with pricing that is basically agreed marketing terms.
However, it is very difficult to deal with hotels over rates. Tripbam is one provider whose tool allows travel managers to audit whether or not travel provider prices were as good as promised.
Emburse plans to offer Tripbam’s audit technology to its more than 18,000 customers, including companies such as Google and ExxonMobil, with a claimed 12 million users. Microsoft, for example, is a client that uses both Emburse and TripBam for employee travel.
“Emburse Go Premier allows our employees to manage all aspects of their travel through a single app, and Tripbam delivers savings through rebooking at lower rates,” said Eric Bailey, global director of travel and employee devices at Microsoft.
Consolidation may be taking place in the corporate travel space. Emburse rival cut a travel and expenses platform was launched last year and also has a similar price booking tool. Both Emburse and Coupa are trying to take share from SAP Concur, the biggest player in the segment.
Emburse is the result of a roll-up of several vendors at K1 Investment Management, a private equity group in California — which apparently sees continued growth opportunities.