U.S.-based travel management company TripActions raised $154 million in Series C funding round.

The round was led by U.S.-based venture capital firm Andreessen Horowitz, with participation from previous investors Lightspeed Venture Partners, Zeev Ventures and SGVC.

The new capital will be used for the development of TripActions’ product and service offerings globally to further accelerate enterprise adoption, including expanding its research and development team globally, applying innovative technology solutions to corporate travel, growing adoption of its new suite of service offerings.

In conjunction with the funding, Andreessen Horowitz will be joining TripActions’ board of directors. Since its founding in 2015, TripActions has raised a total of $232 million in funding.