Troop announces $11m funding round as it plans platform expansion

US-based developer of corporate meeting technology and services, Troop has announced a $11m Series B funding round, led by Durable Capital Partners LP and Madrona Venture Group, with participation from All Iron Ventures and Conexo Ventures. Troop’s technology platform helps companies plan, book, expense, and manage logistics for in-person meetings. And its founder and co-CEO Dennis Vilovic, says: “We are thrilled to partner with Durable Capital Partners, Madrona, and our other investors as we continue to drive growth and build out our capabilities to serve our valued customers. We have seen the enormous impact of tech-enabled meeting planning as companies react to the ever changing future of work and we are proud to help deliver solutions for them.” This latest investment will be used to continue to grow Troop’s technology, customer success and sales teams to support the broadening international footprint and expansion across Europe and the US, and to deliver and launch next year TROOP: One, its end-to-end meeting management platform. Troop claims its customers are benefiting from up to 22% average savings on costs, time, and CO2 emissions for their in-person meetings. Meeting organisers can use the Troop dashboard to visualise and aggregate data to make decisions about group travel and collaborate with co-workers and participants. Over the last 15 months Troop’s global and fully remote team has grown from six to more than 40 and the company expects to more than double its staff over the next year. “The meetings and event planning market has historically been underserved, and the limited tools available required large internal teams to deliver acceptable outcomes. With the pandemic-driven acceleration of distributed workforces, the need for an easy-to-use, complete solution to plan, book, expense, and manage meetings and events of any size has increased dramatically. Troop fills that need with a platform that is easy to deploy, can be used by anyone, and that leverages local experts to deliver unique meetings and event experiences,” says Steve Singh, executive chairman of Troop, and managing director at Madrona.