Palo Alto-based startup Navan has secured $300 million in Series G funding, valuing the company at $9.2 billion post-money. The round, led by Coatue with $154 million in equity and a $150 million structured capital transaction, comes at a critical time as Navan aims to accelerate its global expansion and scale its all-in-one travel and expense management platform.
Founded with the goal to simplify business travel and expenses, Navan has steadily built a comprehensive solution encompassing travel booking, corporate card usage, and expense management. Despite global travel slowdowns during the pandemic, Navan focused on innovation and automation, enabling businesses to manage travel and spend seamlessly in a single platform.
In the past year, Navan has boosted its capabilities through strategic acquisitions of Reed & Mackay, Comtravo, and Resia. It has also made strong inroads in Europe by launching ‘Navan Expense’ in key markets including Portugal, Germany, France, and the UK. The company now boasts over 2,500 employees across nearly 60 offices worldwide, reflecting its global ambitions.
At the core of Navan’s growing appeal lies its AI-powered expense management platform. Built for fast-moving businesses, the platform automates tedious processes such as receipt scanning, categorization, and expense approvals. Integration with corporate cards enables automatic transaction submissions, while real-time expense policy enforcement flags out-of-compliance transactions instantly.
Managers benefit from intuitive dashboards that provide granular visibility into spend by vendor, employee, or department, helping optimize travel and expense budgets with greater control and accuracy.
“We’re building the best travel and expense management solution in the world,” said Ariel Cohen, Navan CEO and co-founder. “This recent funding round demonstrates the strength of our business model and the value companies place on software that drives savings and enforces responsible spending. Our relentless innovation and automation set the stage for the future of travel management.”
Bridging Travel and Expense Management
Navan’s all-in-one platform helps organizations to manage spend holistically, bridging the gap between traditional travel booking and expense reconciliation which were often siloed. Its advanced integration capabilities connect with leading ERP, HR, and payment systems such as NetSuite, QuickBooks, ADP, and major corporate card networks.
This tight ecosystem integration streamlines reconciliation, accelerates approvals, and improves employee satisfaction by reducing manual processes. Dynamic travel policy enforcement is another key feature.
Employees book flights, hotels, and car rentals through an intuitive interface that ensures compliance with company policies while allowing personal loyalty program benefits. Automatic expense tracking linked to trips further simplifies workflows, saving finance teams valuable time.
With the recovery of business travel accelerating worldwide, Navan is positioned to seize a significant market opportunity. Its AI-driven platform not only reduces costs and fraud risks but also enhances traveler safety by giving companies real-time spend visibility and oversight.
By combining travel management and expenses into a single platform, Navan delivers a seamless experience for businesses navigating the complexities of modern travel and spending.
The fresh Series G capital will fuel Navan’s global footprint expansion, product innovation efforts, and continued acquisition strategy. As Navan scales, it aims to maintain its edge as a user-centric, flexible platform tailored for the needs of fast-growing and enterprise customers alike.
