Meetings Tech Platform Troop Scores $8M in Funding

Meetings management platform Troop has raised $8 million in Series A funding, the company announced Thursday at the Business Travel Show Europe in London. Concur co-founder Steve Singh’s Madrona Venture Group led the round.

Troop uses data analysis and an algorithm to consider such factors as attendee origination points, flights, travel time, safety risks, costs and carbon footprint to help users find the optimal location and time for meetings and events

The company plans to use the funds to build out the booking and expense functionality of the tool, according to Troop. Founded in 2017 by co-CEOs Dennis Vilovic, based in Madrid, and Leonard Cremer, who also is Troop’s CTO and is based in Johannesburg, the company has incorporated in the United States as part of the financing.

Singh will join Troop as chairman of its board of directors. Madrona also recently invested in Spotnana, a travel management company that earlier this month came out of stealth mode. Other investors include Epic Ventures, Conexo, All Iron, Plug and Play, Travel Tech 1 – Top Seeds Labs and Founders Factory. The round also included support from Trivago founder Rolf Schromgens, former Egencia president Rob Greyber, former Uber COO Barney Harford and former Concur presidents Jim Lucier and Mike Eberhard.

Donna M. Airoldi  www.businesstravelnews.com