Navan, formerly TripActions, is a corporate travel and expense management company founded in Israel and now based in Palo Alto. It raised $923 million in its IPO, priced at $25 per share, with a valuation of over $6 billion. The company, which nearly collapsed during the COVID-19 pandemic due to travel restrictions, successfully pivoted into broader corporate services, including payments and entertainment reservations. Its revenue grew 33% in 2024 to $537 million, and it serves over 10,000 clients globally. Despite narrowing operating losses, high debt remains a challenge, which the IPO proceeds aim to reduce. The listing marks a sign of renewed investor confidence in growth tech firms after a subdued period for public offerings.