Concur Buys Business Travel Technology with Venture Investments

Since Concur and Acceleprise busted out a $150 million company venture capital fund last November, the travel expense management company has backed nine startups.

The Redmond, WA-based company is backing StayNTouch, which raised $1.6 million from Concur and Acceleprise, to build a cloud-based communications platform to connect hotel staff and guests on mobile devices; and two Seattle-area companies, Yapta, the airfare tracker, which we noted Tuesday; and Trover, the Rich Barton-backed platform for travel photography.

That last one may seem a bit counter-intuitive for a company focused on business travel. But Mike Hilton, Concur’s executive vice president in charge of strategy and product, says it’s indicative of the ways his company sees business travel changing.

Hilton, who co-founded the company nearly 20 years ago with brothers Steve and Rajeev Singh, says the Concur Perfect Trip Fund aims to support new applications that leverage mobile, social, cloud computing, and big data—all of which are transforming business travel. Source


Tags: Venture Capital, Venture Capital fund, Venture Capital firm, Concur, Redmond, WA, StayNTouch, Concur and Acceleprise, Seattle, Yapta, Trover, Mike Hilton, Steve Singh , Rajeev Singh, Concur Perfect Trip Fund.

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