Are you confident enough in the resurgence of business travel to risk a substantial investment? It appears Andreessen Horowitz, Addition, and Elad Gil are.

This past week, these three firms spearheaded a significant, multi-million dollar funding round for TripActions, a technology firm specializing in corporate travel booking and management solutions. However, the significance extends beyond the investment amount itself. TripActions’ continued expansion serves as an encouraging indicator for startups within the travel industry, which experienced considerable hardship during the pandemic. While reports suggest a market recovery is underway, the investors’ commitment to a $5 billion valuation provides further evidence of their belief in this trend.

Like numerous other travel-focused companies, TripActions was compelled to reduce its workforce considerably at the onset of the pandemic due to the widespread suspension of business travel. Although the company has not yet fully regained its pre-pandemic activity levels, a company representative suggested that the increasing prevalence of remote work arrangements could actually stimulate corporate travel. The elimination of daily commutes may make more frequent air travel – perhaps monthly – a more appealing option for employees.

This development presents a potentially positive outlook because remote work and corporate travel are not necessarily conflicting concepts. This is a crucial consideration for entrepreneurs operating in the remote work sector as we await a clearer understanding of consumer behavior in the post-pandemic era. Founders frequently emphasize that their startups are entirely dependent on remote work, but it’s becoming apparent that perspectives will evolve as we move forward.

Continue reading for updates on Plaid’s new investments in early-stage entrepreneurs, the thriving startup environment in Israel, and differing approaches to telehealth. As a reminder, you can reach me on Twitter @nmasc_ and submit information regarding early-stage startup funding to natasha.m@techcrunch.com

Plaid draws inspiration from Y Combinator

I recently commented that companies aiming to replicate Plaid’s model will likely continue to emerge, despite the termination of its intended $5.3 billion acquisition by Visa. This week, Plaid unveiled an accelerator program designed to support these “Plaid for X” startups. The situation is quite remarkable.

Key details: Finrise, originating from an internal hackathon idea last summer, will provide guidance to three to five entrepreneurs from groups historically lacking representation in the fintech space as they launch their businesses. While the program does not include funding, participants will benefit from mentorship from Plaid experts, an intensive bootcamp, and connections to a network of potential investors.

Additional context: It’s not unexpected that Plaid is developing its own incubator initiative. The fintech industry has experienced substantial growth. Recent analysis of fintech trends reveals that un-exited fintech companies valued at over $1 billion are currently at their highest-ever total valuation. This “unicorn effect” is influencing typical valuations and the size of investment deals.

Furthermore, venture capital firms invested an average of $428 million daily into U.S.-based startups throughout 2020.

Our most recent survey of investors featured discussions with eight venture capitalists specializing in the healthcare industry regarding the trajectory of digital health.

Key takeaways: Demand for telehealth is not only increasing, but the very concept of telehealth is evolving. Investors analyzed the outlook for funding in digital health, the potential effects of the Biden administration on their investments, and the challenge of navigating a sector driven by such strong feelings while still capitalizing on emerging possibilities. Nan Li, managing director at Obvious Ventures, described the potential ahead in the following way:

Additional insights: We also present another investor survey this week: insights from 6 investors on the trends and opportunities within the mobile gaming landscape of 2021.

The recent success of initial public offerings can best be described as consistently strong upward movement.

Key takeaways:

• Qualtrics recently published an updated S-1 document, revealing specifics regarding its IPO price.
• An assessment of the current status of C3.ai, Airbnb, DoorDash, Affirm, Wish and Poshmark is provided.
• Despite a decline in share value during its initial trading period, Hims’ CEO expressed satisfaction with the outcome.
• Bryan Goldberg, CEO of Bustle, details his strategy for bringing the company to the public market.

More: Sign up for The Exchange, a weekly newsletter written by our IPO and public markets correspondent Alex Wilhelm.

Drew Olanoff, a highly regarded original contributor to TechCrunch, is back with the team to expand our community features for Extra Crunch members. He is developing innovative methods to facilitate connections between our audience and the TechCrunch staff, leading entrepreneurs, and key figures within the startup world. Feel free to share your ideas and feedback with him directly!

Extra Crunch Live is making a significant comeback in 2021. We will be featuring interviews with venture capital investors and founders, focusing on the details of their Series A funding rounds. Extra Crunch subscribers will also have a unique opportunity to receive real-time critiques of their pitch decks. Details regarding the 2021 Extra Crunch Live schedule can be found here, and you can submit your pitch deck using this form. New episodes will be broadcast every Wednesday at 3:00 PM Eastern Time / 12:00 PM Pacific Time, beginning in February.

Across the week

On TechCrunch 

Despite a year of significant shifts, Israel's startup community continues to demonstrate strong growth and innovation.

Instacart has decided to remove positions held by employees who are members of a union.

Lucile Cornet has been elevated to the position of Partner at Eight Roads Ventures Europe.

Alphabet has ceased operations for its Loon project, which focused on providing internet access via balloon technology.

On Extra Crunch

A detailed, fifteen-stage guide to securing funding for a new venture capital or private equity fund is available.

An analysis of venture capital investment activity in Asia and Europe throughout the year 2020 has been published.

Guidance is offered on the optimal timing and methods for establishing marketing teams within companies specializing in advanced technologies.

@EquityPod: The sole observation regarding the evolution of media is that media represents the direction of progress

Following numerous reports concerning media and venture capital this week, the Equity team discussed the trajectory of journalism, particularly in light of A16z’s introduction of a new publication. I will refrain from revealing our specific viewpoints, but the heading provides a clear indication of our perspective.

We also explored several other subjects, including a significant amount of news related to transportation, a Nigerian startup focused on educational technology, and a GPS-related narrative that proved surprisingly compelling despite its extensive 400-page documentation.

You can listen to the episode here, and please note that we also produce a well-received Monday morning program designed to prepare you for the upcoming week.

Until next time,

Natasha