2023 sales: $6.5 billion
Previous ranking: Unranked
Employees: 2,974 full-time, 127 part-time
3045 Park Blvd.
Palo Alto, CA, 94306
Email: contact@navan.com
Website Executives
CO-FOUNDER/CEO: Ariel Cohen
CO-FOUNDER/CHIEF TECHNOLOGY OFFICER: Ilan Twig
CEO, NAVAN EXPENSE: Michael Sindicich
COO: Nina Herold
CEO, EUROPE: Michael Riegel
CEO, REED & MACKAY: Fred Stratford
COMPANY FACTS
* Privately held company with direct sales.
* Owns corporate agency Reed & Mackay.
* Sales: 78% business, 4% leisure, 18% other.
* A member of GBTA, the Institute of Travel Management, ABC Global Services and Virtuoso.
2023 DEVELOPMENTS
* Project Concorde is an ongoing campaign to improve the company's overall user experience. The project includes adopting NDC, enhancing the front- and back-end experience, creating more self-serve opportunities, increasing unused credits automation and investing in air content.
* Integrated generative AI by launching Ava, an automated virtual assistant. Ava's capabilities were soon expanded to include data analysis for CFOs and finance teams. Concierge by Ava also began offering travelers more personalized recommendations based on travel preferences and booking patterns.
* Bringing Navan Connect, card-link technology for the company's No Expense Reports experience, to companies with enrolled Mastercard or Visa cards. This extends the automation of fintech-powered expense management to a user's existing bank card, enabling companies to keep existing banking relationships with real-time control, spend visibility and automated expense reports previously limited to smart card-led programs. Citi and Navan launched a jointly branded travel-and-expense system for Citi Commercial cardholders that leverages Navan Connect, which Navan called the first end-to-end T&E bank portal on the market.
* Acquired Tripeur, a corporate travel and expense management company serving India's $35 billion travel market. The agreement marked Navan's fifth acquisition in two years, following purchases in the U.K., Germany, Sweden and Spain. Navan now supports more than 500 multinational customers with locations in India, including multinationals such as Unilever and Adobe, in addition to regionally based companies.
* Created Navan Rewards, which incentivizes employees to make cost-effective decisions while traveling for work. The more they save for their company, the more rewards they earn to use on personal travel booked through Navan. Some companies are already experiencing up to 15% travel cost savings and 19% higher adoption rates.
LOOKING AHEAD
* Providing NDC content from 14 airlines with more on the way.
* Evolving Ava by developing proactive interfaces that change based on a traveler's location or needs. This includes travel agent support.
* Focusing on incentives beyond the workplace, creating a marketplace (beta) for companies to gift travel credits to employees or for users to purchase travel credits as a gift.
* Providing ways to manage teams of any size through self-serve trip changes, automated expense management, and real-time policy control.
* Expanding Navan Connect, partnering with fintechs such as Rho and Mercury, institutions such as Bank of America, and issuers such Discover and Amex.
* Company says it will record continued growth and innovation in corporate travel: geographically, technologically and in terms of customer acquisition. Looking ahead to the third and fourth quarters of 2024, there will be an increased emphasis on profitability, global expansion, AI, Navan Connect growth and technology.