Concur has been quietly investing in young companies in the past four years, sometimes taking a small share, sometimes larger, rarely with much fanfare. The company has positioned itself somewhere in the blurring lines of technology provider and travel facilitator (although not TMC) and is admired by many for its strengths, particularly its balance sheet.
In first quarter 2014 results, Concur beat estimates for revenue, earnings and new customer growth. It effectively had more money than it could spend. Its investments and strategy are plugging some of the gaps in the business travel experience to get to what it calls the ‘Perfect Trip’.
Recent investment milestones:
- Aquisition of TripIt in a deal worth up to $120 million in January 2011
- Unveiling of $150 million Perfect Trip fund and investment in Evature
- Investment in Yapta, Trover and StayNTouch in July 2013
- Investment in Visage Mobile in the middle of 2013
- Acquisition of ConTGo in March 2013
- Leads investment $9 million investment in Nor1 in December 2012
- Invests in Room 77 in February 2012
- Investment in Buuteeq in November 2011
- Investment in $40 million minority stake of ClearTrip in April 2011
- Investment in RideCharge, owner of Taxi Magic app in 2009
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