Navan, formerly TripActions, built an all-in-one travel, corporate card, and expense management solution that helps companies increase productivity and cut costs. The platform empowers clients to easily book, view, and manage business travel, as well as expenses. Navan's platform combines the power of artificial intelligence (AI) and data science with a modern, user-friendly design.
The company's growth has been driven in part by a string of acquisitions that have transformed it into a leading technology-first corporate travel platform. Thousands of companies trust Navan for their corporate travel and expense management needs.
Navan still has a long growth runway ahead of it. That has many investors eager to book their purchase of its stock when the company completes its widely anticipated initial public offering (IPO). Here's everything you need to know about investing in Navan, including how to potentially buy pre-IPO shares.
IPO
Is Navan publicly traded?
Navan was not a publicly traded company as of mid-2025. The all-in-one travel, corporate card, and expense management company was a private company backed by venture capital funds, including Andreessen Horowitz, Base Partners, Elad Gil, Greenoaks Capital Management, Zeev Ventures, Lightspeed Ventures, and Addition Ventures.
When will Navan IPO?
Navan didn't have an IPO on the calendar as of mid-2025. However, the company has been gearing up to go public for the past few years. It was preparing to go public in late 2022, reportedly seeking a $12 billion valuation. Instead, it ended up raising additional money from venture capital funds at a $9.2 billion valuation due to challenging market conditions.
Since then, the company has focused on reducing costs and improving profitability to boost its IPO appeal. In an article on TechCrunch in December 2023, CEO Ariel Cohen said:
"I think eventually we will be a public company. We've raised around $1.4 billion to date and maturity-wise, we are there, to be public. Growth-wise, we are growing extremely fast, and a lot of our metrics would support being public. I don't think the market is there right now."
In late June of 2025, Navan announced that it filed for an IPO, though the terms of the offering have not been disclosed. That makes it a top IPO stock to watch.
Stock
Shareholder
Step 4: Place an order
Once you've opened and funded a brokerage account, set your investing budget, and researched the stock, it's time to buy shares. The process is relatively straightforward. Go to your brokerage account's order page and fill out all the relevant information, including:
- The number of shares you want to buy (or the amount you want to invest to purchase fractional shares).
- The stock ticker (BILL for Bill Holdings, EXPE for Expedia Group, or PCTY for Paylocity Holding).
- Whether you want to place a limit order or a market order. The Motley Fool recommends using a market order since it guarantees you buy shares immediately at market price.
Once you complete the order page, submit your trade to become a shareholder of one of these Navan alternatives. You will follow a similar process to buy an IPO stock like Navan when it goes public. When shares start trading publicly, select its chosen stock ticker to buy Navan through your brokerage account.
Is Navan profitable?
A key aspect of investment research is reviewing a company's profitability. You will want to see that a company is growing its profits or is at least on the path to making money. Rising profits tend to drive a company's ability to increase value for its shareholders over the long term.
As a private company, Navan didn't publicly report its profitability metrics. Because of that, there isn't much publicly available information about its financial results.
However, the company cut about 5% of its workforce in late 2023 to improve its profitability. In an article by TechCrunch, a company spokesperson stated:
"We are refocusing efforts to move faster toward profitability as we enter the next phase of the company. As such, we have made the difficult decision to reduce the size of our global workforce by 5% to increase operational efficiencies as we continue to reinvent travel and expense through innovation."
Those comments suggest Navan was not yet profitable but is working toward reaching that goal by restructuring its workforce. Investors should examine Navan's financial results closely when it releases its IPO prospectus to see whether it has turned the corner and is making money.
Should I invest in Navan?
Investing in individual stocks can be a deeply personal decision. Here are a few reasons you might decide to invest in Navan:
- You use Navan's corporate travel and expense solutions and like the value it provides users.
- You want to invest in IPO stocks with strong growth potential.
- You believe Navan can get on the road to profitability.
- You believe corporate travel will continue to grow, driving the need for solutions like Navan.
- You understand the risks of investing in an IPO stock, including that they can be very volatile.
On the other hand, here are some reasons you might decide not to invest in Navan:
- You're unsure what Navan does or how it makes money.
- You use a rival solution and don't see the value in Navan's platform.
- You're concerned about corporate travel's growth potential due to lower-cost alternative solutions like Zoom (ZM -0.02%).
- You're at or nearing retirement and can't afford the risk of a potentially volatile IPO stock.
- You're concerned that Navan won't turn the corner and be consistently profitable.
The bottom line on Navan
Navan's purpose-built, easy-to-use technology platform for travel and corporate expenses is winning over clients by saving them time and money. While thousands of companies already trust Navan, it has a long growth runway ahead. That growth potential has investors eager for its IPO, which could come soon now that the company has filed for its initial public offering.
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