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Five years in the past: Pundits mentioned enterprise journey was useless and Navan misplaced most of its income in a single day.
Today: Navan turns into a public firm on the Nasdaq.
Today was an unbelievable day of pleasure and gratitude as we celebrated Navan’s IPO by ringing the Nasdaq Closing Bell. Congratulations to co-founders Ariel Cohen, Ilan Twig and the whole Navan crew on this necessary milestone as they start their journey as a public firm.
But 5 years in the past, issues appeared very totally different. As covid unfold, enterprise journey stopped in a single day – and Navan’s quickly rising revenues vanished.
What the Navan crew did subsequent was a masterclass in braveness, resilience and dedication. Pundits declared enterprise journey useless. But as a substitute of retreating, the crew fought on. They raised capital in one of many hardest markets conceivable, dramatically lower prices, and saved innovating.
When the world reopened, Navan emerged stronger – proving the pundits incorrect. Because enterprise is private. The greatest offers nonetheless occur face-to-face, belief is constructed with a handshake, and relationships are fashioned over a meal.
Lightspeed first invested in Navan’s Seed Round in 2015, we co-led their Series A with our pal oren zeev, and we led the Series B financing. We continued to take a position over the previous decade, behind an amazingly gifted and brave crew that mixed deep technical smarts and sound product technique to remodel the enterprise journey business. Their imaginative and prescient to make use of AI to carry the large enterprise journey market on-line is as thrilling now because it was in 2015.
It’s been an unbelievable privilege to serve on the Navan board because the very starting, and an honor to ring the bell at present with Ariel Cohen, Ilan Twig, Michael Sindicich, Nina Herold, Grant McGrail, Ofer Ben David, and lots of others from the Navan crew, in addition to our associates from the Navan board: oren zeev, David George, Ben Horowitz, Sandesh Patnam, Clara Liang, Mike Kourey, Anré Williams, and Adam Bain.
Congratulations to the whole Navan crew on constructing a tremendous firm.
You’re solely simply getting began.
Read extra about Lightspeed’s partnership with Navan:
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