Travel booking co Navan to file for Wall Street IPO

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US-based travel booking company Navan will file a Form S-1 to the US Securities and Exchange Commission for an IPO on the New York Stock Exchange. Navan, formerly TripActions, which was founded by Israeli entrepreneurs, has been considered an IPO candidate for years. In the past it sought a valuation of $12 billion, although "Globes" estimates that the company will now try to raise money at a valuation of $7-8 billion.

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Navan was founded by CEO Ariel Cohen and CTO Ilan Twig, Oren David and Nina Herold. Israeli investors include Oren Zeev through Zeev Ventures and Dovi Frances through Group 11. The big investors in the company include Andreessen Horowitz, Lightspeed, Coatue, Greenoaks, and 01 Advisors. Founded 10 years ago the company is headquartered in Palo Alto but has a development center with 50 employees in Tel Aviv's ToHa tower, developing several main products. Overall the company has 3,000 employees worldwide.

Navan and rival TravelPerk, which is also planning an IPO, are in the corporate business travel industry, providing financial and human resources managers in commercial companies with the ability to monitor employees' travel budgets and make it easier for them to book flights, hotels and cars. As such, they are considered players in the emerging fintech market.

Navan's most recent financing round was completed in 2022 at a valuation of $9.2 billion, according to PitchBook, so the company may have to settle for a lower valuation.

Published by Globes, Israel business news - en.globes.co.il - on September 17, 2025.