TripActions, the business travel and spend management platform, announced it has raised $155 million in Series E growth funding. The funding, which increases the company’s valuation to $5 billion, will be used, according to an announcement, “to deliver a seamless, all-in-one travel and spend management platform to help get the world back to business.” Ariel Cohen, CEO, said that while COVID-19 has challenged the entire travel industry, the company “is grateful to be emerging during this trying time well-positioned thanks to its customers and the dedication of the TripActions team.” He said that despite the events of 2020, the company has seen accelerated adoption by companies of all sizes and industries, growing its book of business to over $3.6 billion, and adding its largest accounts to date. TripActions, said the announcement, has seen rising demand from companies looking to partner with a travel and spend management provider that can quickly innovate and help businesses better control spend. Since March, the company has launched more than 40 major new product enhancements and capabilities, including a COVID-19 dashboard, reimagined spend analysis dashboard, enhanced traveler safety reporting, automated unused ticket technology, TripActions Liquid Expense and TripActions Enterprise Edition.