led by venture capital firm Canaan Partners, with participation from
Genacast Ventures and others. The New York City-based
startup challenges
travelers to beat what it determines to be fair market rates and uses emailed
itineraries from traveler bookings in the open market to help clients watch
spending. According to the company, seven beta testers "saved nearly
$20,000 across 100 trips" representing a "25 percent reduction"
in travel spending. "Forward-looking companies are recognizing that they
can enlist their employees to help reduce spending on travel while increasing
employee satisfaction on these trips," according to a statement from
Canaan Partners general partner Warren Lee. "This change is happening
especially fast in the mid-market." Rocketrip previously received funding
from Genacast, Y Combinator and other investors, and indicated that new funds
"will be used to accelerate software and product development and to build
out sales and client services."