Dallas-based TRIPBAM acquired by Los Angeles business travel management company » Dallas innovates

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Dallas-based TRIPBAM has been acquired by Emburse, a Los Angeles-based travel and expense management leader.

Financial terms of the acquisition were not disclosed.

Founded in 2013, TRIPBAM provides the industry's only fully automated, always-on audit technology for tracking and reviewing a company's pre-travel spend, company-negotiated discounts, and supplier contracts. It states that

“As we were looking for the best way to take TRIPBAM to the next stage, we knew we needed to join an organization with a strong track record of global growth and the ability to support the world's biggest brands.” said TRIPBAM CEO and Founder. Steve Reynolds said in his statement: “In Embers, we have found a similarly entrepreneurial, customer-centric organization that challenges the status quo with new thinking and a superior suite of products.”

TRIPBAM says its technology constantly tracks and compares current prices with customers' travel reservations, automatically rebooking flights and hotel rooms when lower prices are available.

The company says it has tracked more than 30 million corporate travel bookings to date, representing more than $30 billion in spend, and its solutions are used by more than 2,000 customers, including Aon, Elevance Health and Microsoft. It added that it automatically resulted in more than $500 in savings. a million.

Combining travel management with low-cost rebooking

Embers said the acquisition will make it an even stronger partner for travel and finance industry leaders, helping them improve spend management and support their efforts to proactively manage travel costs.

Emburse said TRIPBAM enables its more than 18,000 customers to add flight and hotel rebooking to their T&E process, ensuring they get the best deals on their travel plans.

“In the immediate aftermath of the pandemic, businesses have a strong desire to increase employee travel, but the economic turmoil has CFOs and finance leaders looking for ways to contain costs without slowing down their businesses. And with TRIPBAM, we can do that,” Embers CEO Eric Friedrichsen said in a statement. “I am excited about this acquisition because our integrated solution puts the power of automation, AI, and data in the hands of our customers, freeing them from the hectic task of manually managing their spend. I can focus on my business.”

Friedrichsen said the company's innovative solutions and talented team will further accelerate the pace of innovation. “This is good for both our business and our customers.”

He added that the acquisition will bring significant value to all parties involved.

“MSTravel's goal is to make business travel employee-friendly while minimizing environmental impact and delivering financial value to Microsoft,” said Microsoft's Global Director of Employee Travel and Devices. Eric Bailey said in a statement. “With Emburse Go Premier, employees can manage every aspect of their trip in one app, and TRIPBAM realizes savings through low-cost rebooking. Accessibility and uptime are critical. So running these solutions on Microsoft Azure gives us peace of mind.”