venture capitalist Steve Singh Growth Investor Group acquires corporate travel management company direct travel.
Investors participating in Mr. Singh's acquisition include: Durable Capital Partners, madrona ventures, top tier capital partner and blackstone credit insuranceDirect Travel reported on Tuesday (April 2). press release.
“Direct Travel sets the standard for customer experience,” Singh said in the release. “We are excited to invest in and partner deeply with what we believe will become a market-leading travel management company.”
As part of the acquisition, ed adamsAccording to the release, he is planning to retire after founding Direct Travel in 2011 and serving as its CEO.He was replaced by a newly appointed CEO crystal belmontHe was the former CEO of Teilund.
Both Singh and Belmont have extensive experience in the travel industry, the release states. Singh founded travel and expense management company Concur, and Belmont was with Concur where he spent more than 15 years. SAP Concur.
Direct Travel serves more than 4,500 mid-market and enterprise customers, according to the release. The company has integrated proprietary artificial intelligence (AI) innovations centered around customer experience with its travel technology stack, including its Travel-as-a-Service platform. spot nanaa card-first expense management platform centera group meeting and event platform troops.
“Together with our technology partners and extensive supplier network, we will continue to make our own investments around user experience and dynamic client services, all of which will be available as a service to other travel management companies. ,” Belmont said in the release.
Another recent acquisition in this space includes american express global business travel (Amex GBT) announced on March 25th that it has agreed to a global acquisition. business trip and conferencing solution providers C.W.T. For $570 million.
“Introducing CWT to our proven Amex GBT software and service model will create more choice for our customers, more opportunity for our people, and more value for our shareholders,” said Amex GBT CEO. Paul Abbott He said this when announcing the contract.
March 11, amadeus announced that it had acquired voxelB2B payment solution provider travel department. The acquisition adds Voxel's eInvoicing and B2B payments tools to Amadeus' portfolio, helping business customers further automate various aspects of the business travel experience.
