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Emburse to Acquire Tripbam

Deal said to put automation, AI and data in the hands of customers >>

Written by:

Harvey Chipkin

Published on:

July 21, 2023
The image features two logos. The top logo represents "Emburse," displayed with a modern, sleek design in white text on a dark blue background. To its left, an icon resembling an "E" in a bold and stylized font adds a professional touch. Below, the "TripBAM" logo is shown on a white background. The word "TripBAM" is written in turquoise text, with a playful yet professional font, accompanied by a graphic of multicolored buildings, emphasizing its focus on travel and accommodations.

Emburse, the travel and expense provider, has acquired Tripbam, a provider of automated auditing technology, to track and review corporate travel pre-trip spend, corporate negotiated discounts and supplier contracts.

The acquisition, according to an announcement, “makes Emburse an even stronger partner for travel and finance leaders, supporting their efforts to better manage spend and proactively control travel costs.” With Tripbam, said the announcement, Emburse’s 18,000-plus customers can add flight and hotel rebooking to the T&E process, providing the lowest prices for their travel plans.

Eric Friedrichsen, CEO of Emburse, said that on the heels of the pandemic, businesses are seeing a strong desire for more employee travel, “but a turbulent economy has CFOs and finance leaders looking for ways to keep those costs down without slowing the business, which is exactly what Emburse and Tripbam enable.” He said the deal creates a combined solution that puts the power of automation, AI and data in the hands of customers “so that they can focus on their business instead of the busywork of trying to manage spend manually.”

Steve Reynolds, CEO of Tripbam, said that when looking for the best way to help bring Tripbam to the next stage of its journey, “we knew that we needed to join an organization that has a strong track record of global growth and could support the world’s biggest brands.” In Emburse, said Reynolds, “we found a similarly entrepreneurial, customer-centric organization that is challenging the status quo with new ways of thinking and a great suite of products.”

Emburse has also recently acquired the expense platform Chrome River, analytics provider DVI and mobile travel integrator Roadmap.

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