

Business Partnerships
https://www.visa.com/https://www.uber.com/us/en/business/https://www.lufthansagroup.com/en/home.html

Targeted Impact

Who Will Benefit?

What Comes Next?

The corporate travel management sector is bifurcating into integrated platforms and specialized tools. Navan leads the former category with its unified travel booking, policy automation, and expense tracking, appealing to enterprises seeking centralized control. SAP Concur and TravelPerk follow closely, though with narrower AI-driven adaptability. Meanwhile, Brex and Expensify dominate niche spend management segments but lack native travel inventory. This matrix underscores a broader industry shift toward consolidation, with Navan positioned to capture market share through its employee-centric rewards and predictive analytics. Investors should monitor scalability challenges as platforms expand into adjacent financial services.
Navan generated $300.0M in revenue as of 2024, reflecting a year-over-year growth rate of 0.0%, according to PM Insights' market research. Navan carries a 16.84x revenue multiple as of May 05, 2025, according to PM Insights' venture secondary market data.
Over the last 90 days, shares returned -24.12%, with $20.5M in secondary bids, offers, and transactions activity, according to PM Insights' secondary market data.
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