We're proud to announce that Rocketrip has been named the Top Employee Reward Solution as part of Citi's Smarter Workplace Challenge. Citi's leadership team selected Rocketrip from more than a hundred tech companies that had been invited to propose digital solutions to the organization's most pressing HR challenges.
As one of the winners of the competition, Rocketrip will have the opportunity to reduce Citi's travel costs using smart budgets and saving incentives. We're looking forward to the work ahead, and delighted to see another organiation embrace an employee-centric approach to managing expenses. Check out the full announcement below, and get in touch with the Rocketrip team to learn more about how the world's most innovative companies are reducing their travel costs 30% by motivating employees to save.
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Rocketrip Named "Top Employee Reward Solution" in Citi Smarter Worklife Challenge
NEW YORK, March 23, 2016 /PRNewswire/ -- Rocketrip, creator of the first Travel Incentive Platform, has been named "Top Employee Rewards Solution" in the Citi Smarter Worklife Challenge. The inaugural competition and pitch event invited tech companies to propose digital human resources solutions to enhance Citi's workplace. Rocketrip will have the opportunity to explore entering into commercial terms with Citi.
133 companies from 21 countries entered the Smarter Worklife Challenge. Participants submitted proprietary technologies that Citi could use to improve talent management organization-wide. On February 11, 2016, 19 finalists presented their solutions to Citi leadership at a Demo Day in New York City. Rocketrip was one of eight companies that earned a Smarter Worklife Challenge Award. Three Awardees, Rocketrip, Infolio and Cooleaf, will share a $50,000 cash prize.
"Through Citi's Smarter Worklife Challenge, we engaged leading human resources technology companies, and expanded our ecosystem to uncover cutting edge solutions that can improve the employee experience at Citi," said Jorge Ruiz, Global Head of FinTech Acceleration. "All the teams that we met during the Demo Day in New York City were outstanding and we are looking forward to exploring exciting innovations like Rocketrip."
Rocketrip motivates business travelers to save money on trips by rewarding them with points that can be redeemed for gift cards, cash cards and travel perks. For each itinerary, Rocketrip generates a personalized "Budget to Beat" based on real-time prices for flights, hotels, trains and rental cars. When employees book under budget, they split the savings with their company and earn Rocketrip points. On average, companies that use Rocketrip save 30 percent on Travel and Expenses (T&E).
"We're grateful for this opportunity to showcase Rocketrip's platform, and we look forward to working with Citi on a cutting edge travel savings and rewards program," said Dan Ruch, CEO of Rocketrip. "We congratulate the other awardees for their innovations in talent management."
Rocketrip is the leading technology platform for reducing corporate travel expenses. By letting employees keep half of what they save on their business trips, Rocketrip motivates conscious spending. The platform's algorithms integrate a company's travel policy with real-time trip pricing and availability to create a personalized Budget to Beat for each trip. Employees book using their favorite travel websites or a travel management company, and Rocketrip provides employers with insights and analytics on company spending, savings and employee travel behavior.
Rocketrip is based in New York City and has received funding from Canaan Partners, Genacast Ventures, Crunchfund, Y Combinator and angel investors.