Business travel software provider Navan applies for a U.S. IPO, aiming to raise up to $800 million
Business travel software company Navan has submitted an IPO application to the U.S. Securities and Exchange Commission, planning to raise up to $800 million. Navan, formerly known as TripActions, provides business travel and expense management services. For the 12 months ending July 31, 2025, Navan reported revenue of $613 million and has over 10,000 active customers. The company plans to list on NASDAQ and has not disclosed pricing terms
According to Zhitong Finance APP, Navan, a company providing business travel and expense management software, has submitted an IPO application to the U.S. Securities and Exchange Commission, expecting to raise up to $800 million.
The company, formerly known as TripActions, offers a business travel and expense management platform. Its core proprietary systems include Navan Cloud, which aggregates and provides global travel inventory; Navan Cognition, an artificial intelligence framework that supports booking and expense processing; and a virtual agent named Ava that handles daily customer interactions. As of January 31, 2025, the company has over 10,000 active customers.
Founded in 2015, the company reported revenue of $613 million for the 12 months ending July 31, 2025. The company plans to go public on NASDAQ under the ticker symbol NAVN.
Navan submitted its application confidentially on June 20, 2025. Goldman Sachs, Citigroup, Jefferies, Mizuho Securities, Morgan Stanley, BNP Paribas, Citizens JMP, Oppenheimer & Co., MUFG Securities America, Needham & Co., and BTIG are the joint bookrunners for the transaction. The company has not disclosed pricing terms
