Travel management platform Rocketrip has gained a further $3 million in funding from existing investors Canaan Partners and Genacast Ventures as well as new participants including CrunchFund.
The startup (TLabs here), which rewards travellers with a share of savings made by booking business travel efficiently, adds this A-1 round to the $2.6 million it received in Series A funding in February.
This latest round, which also sees the participation of Paul Buchheit (creator of Gmail), brings the total funding the company has received to $6.2 million.
According to a statement, Rocketrip will put the funds towards speeding up product development as well as sales efforts.
Founder and chief executive Dan Ruch says:
"Results from Rocketrip’s pilot programs have provided quantifiable evidence that the platform will decrease corporate travel costs by more than 20 percent, fundamentally change employee spending behavior, and make travel weary employees feel better about hitting the road."
The company claims to have saved corporates $200,000 in 2014 across more than 1,000 return plane trips and hotel segments.