TROOP, a Madrid, Spain-based developer of corporate meeting technology and services, announced that it raised $11 million in Series B funding.
The round was led by Durable Capital Partners LP and Madrona Venture Group, with participation from All Iron Ventures and Conexo Ventures.
This funding will be used to support TROOP's expanding international footprint and quick expansion across Europe and the United States, as well as to deliver and launch TROOP: One, its end-to-end meeting management platform.
“We are thrilled to partner with Durable Capital Partners, Madrona, and our other investors as we continue to drive growth and build out our capabilities to serve our valued customers. We have seen the enormous impact of tech-enabled meeting planning as companies react to the ever-changing future of work and we are proud to help deliver solutions for them,” said Dennis Vilovic, Founder and Co-CEO of TROOP.
The company’s technology platform helps companies plan, book, expense, and manage logistics for in-person meetings. TROOP is used by a range of customers, from startups and fast-growing companies to well-established global enterprises.
Over the last 15 months, TROOP’s global and fully remote team has grown from 6 to more than 40 and the company expects to more than double its staff over the next year.
Company: Troop Travel, Inc.
Round: Series B
Funding Month: March 2023
Lead Investors: Durable Capital Partners LP and Madrona Venture Group
Additional Investors: Iron Ventures and Conexo Ventures
Company Website: https://trooptravel.com/
Software Category: Meeting Planning Platform
About the Company: TROOP is a meeting planning platform that helps companies plan, book, and manage their meetings and events. Troop data aggregation and algorithms make organizing in-person meetings easy for anyone mitigating risks, saving costs, and reducing carbon footprint. The company is on a mission to reinvent meeting planning, taking what is an inefficient, drawn-out, and laborious process today and making it simple and quick for anyone to organize a meeting. TROOP has been well received and has been awarded multiple industry awards, including the BTN Innovate Award, the Phocuswright Innovation Award, and the Disrupt Award from the Business Travel Show. Today, some of the biggest brands in consulting, technology, pharmaceutical, and other industries are using TROOP to make better decisions in their meeting planning.