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(Incorporated in Delaware)
We make software that streamlines business travel and expense management. Our app lets travelers manage their hotel reservations, travel arrangements and expenses – all in one spot. As of Jan 31, 2025, Navan had more than 10,000 active customers. Crate & Barrel, DataDog, Heineken, Lyft, Shopify, Snowflake, Thomson Reuters and Zoom are among Navan’s customers, according to the company’s website.
From the prospectus:
Travel is more than just getting from point A to point B; it’s the lifeblood of connection in the modern business world. It’s about forging those critical in-person relationships with clients and partners, sparking innovation through team collaboration, and empowering employees to grow and succeed. These moments matter, and they demand a travel experience worthy of their importance. We built Navan for the road warriors, for CEOs and CFOs who understand travel’s critical importance to their strategy, the finance teams who demand precision and control, the executive assistants juggling itineraries, and the program admins ensuring seamless events.
Navan is an end-to-end, AI-powered software platform built to simplify the global business T&E experience, benefiting users, customers, and suppliers. From day one, we leveraged technology to reimagine business travel. We built a comprehensive platform that serves as the foundation for further disruption. We deliver delightful, personalized experiences for users, efficiency and control for customers, and direct market access for suppliers—all powered by our proprietary AI framework, Navan Cognition.
Note: Net loss and revenue are for the 12 months that ended July 31, 2025.
(Note: Navan priced its IPO at $25.00 – the mid-point of its $24.00-to-$26.00 range – and sold 36.92 million shares – the number of shares in the prospectus – to raise $923 million on Wednesday night, Oct. 29, 2025. Of the 36.92 million shares in the IPO, Navan offered 30.0 million shares – and the company’s proceeds from the IPO were $750 million. Selling shareholders offered 6.92 million shares – and their proceeds were $173 million.)
(Background: Navan unveiled its IPO’s terms on Oct. 10, 2025, in an S-1/A filing – 36.92 million shares at a price range of $24.00 to $26.00 to raise $923 million, if priced at the $25.00 mid-point of its rang. Of the 36.92 million shares in the IPO, Navan is offering 30 million shares and the selling stockholders are offering 6.92 million shares. Background: Navan disclosed its IPO plans on Sept. 19, 2025, in an S-1 filing. Estimated IPO proceeds were $100 million, a placeholder figure.)
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