Dallas-based TRIPBAM has been acquired by Emburse, a Los Angeles-based leader in travel and expense management.

Financial terms of the acquisition were not disclosed.

Founded in 2013, TRIPBAM says it offers the industry’s only fully automated, always-on auditing technology to track and review corporate travel pre-trip spend, corporate negotiated discounts, and supplier contracts.

“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,” TRIPBAM CEO and founder Steve Reynolds said in a statement. “In Emburse, 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.”

TRIPBAM said its tech constantly tracks and compares current prices with customers’ travel reservations, automatically rebooking a flight or hotel room if a lower price is available.

It has tracked more than 30 million corporate travel bookings to date, representing over $30 billion in spend, the company said, adding that its solutions have helped more than 2,000 customers, including Aon, Elevance Health, and Microsoft, to automatically save more than $500 million.

Pairing trip management and rebooking at lower rates

Emburse said the acquisition makes it an even stronger partner for travel and finance leaders, supporting their efforts to better manage spend and proactively control travel costs.

With TRIPBAM, Emburse said its more than 18,000 customers can add flight and hotel rebooking to the T&E process, providing the lowest prices for their travel plans.

“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,” Emburse CEO Eric Friedrichsen said in a statement. “I’m excited about this acquisition because our combined solution puts the power of automation, AI and data in the hands of our customers so that they can focus on their business instead of the busywork of trying to manage spend manually.”

Friedrichsen said his company’s innovative solutions and talented team will further accelerate the pace of innovation, “which is good for both our business and our customers.”

He added that the acquisition will drive significant value for all those involved.

“Our goal at MSTravel is to make business travel employee friendly, while minimizing environmental impact and delivering financial value to Microsoft,” Eric Bailey, global director of employee travel and devices at Microsoft, said in a statement. “Emburse Go Premier allows our employees to manage every aspect of their trip through a single app, while TRIPBAM delivers savings through rebooking at lower rates. Accessibility and uptime are critical, so both of these solutions running on Microsoft Azure gives us peace of mind.”

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