Will the Navan IPO Happen Next Year?
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Explore opportunities to own the stock before the Navan IPO, now expected in April 2025, though the has CEO teased it may be sooner (see below).
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Table of Contents
Recent Navan News
05/20/2024: Navan ‘not far’ from IPO
04/24/2024: Navan is targeting an April 2025 IPO
08/25/2023: BI: Navan is Targeting an April 2024 IPO
10/12/2022: Navan’s Platform Increases Valuation to $9.2B
Older news…
About Navan
Navan is a travel and expense management software-as-a-service (SaaS) provider for small businesses and corporate enterprises.
The Palo Alto, California-based startup was founded in May 2015 as TripActions by Ariel Cohen and Ilan Twig, who previously cofounded and sold StreamOnce.
The company emerged from stealth mode in early 2017 and rebranded to Navan in early 2023.
Navan empowers employees to reserve, manage, and view their travel and expenses on an intuitive, modern, and mobile platform.
Behind the scenes, travel and expense data helps businesses run more efficiently, providing business intelligence to analyze costs and make data-driven decisions.
Pronounced “nah-vaughn”, the company derived its name from the words “navigate” and “avant” — “the art of navigating the world with ease and grace”.
Here’s an introductory video for Navan that shows the software in action.
Ownership
Navan is a venture-based startup. Ownership is comprised of the founders, employees, and multiple high-profile venture capital firms.
Prominent venture capital investors include Andreessen Horowitz, Lightspeed Ventures, SGVC, Zeev Ventures, Vista Equity Partners, Addition, Group 11, Base Partners, and Coatue.
After the IPO, Proxima Media (Ryan Kavanaugh) and Bobby Sarnevesht will control a majority of voting power.
Funding Rounds
| Round | Date | Est. Valuation | Raise Amount | Price |
|---|---|---|---|---|
| Series G | 10/11/22 | $9.20B | $304.00M | $12.48 |
| Series F | 12/03/21 | $7.25B | $275.00M | $10.78 |
| Series E | 01/20/21 | $5.36B | $362.00M | $8.71 |
| Series D | 07/09/19 | $4.00B | $250.00M | $7.41 |
| Series C | 11/07/18 | $1.18B | $154.00M | $2.40 |
| Series B | 03/06/18 | $151.00M | $51.00M | $0.62 |
| Series A1 | 09/30/17 | $37.52M | $14.60M | $0.20 |
| Series A | 02/11/16 | $40.10M | $10.10M | $0.17 |
| Seed Round | 05/06/15 | $14.50M | $4.50M | $0.08 |
| Source: Caplight |
Valuation
The most recently confirmed Navan valuation is $9.2 billion based on an October 2022 Series G funding round.
Pre-IPO market data on the Hiive private marketplace and other sources indicate the valuation is about half that amount, near $5 billion.
IPO Potential
The Navan IPO date is unknown.
An April 24th, 2024 report by Business Insider said that Navan plans to IPO in April 2025. Soon after, CEO Ariel Cohen said the company is “not far” from an IPO, but is holding the timeline close to his chest.
Presumably, the company is near ready, but waiting for their underwriters to determine the best time to move forward.
However, Business Insider earlier reported that Navan planned to have an IPO in April 2024. That didn’t happen.
Business Insider reported in September 2022 that TripActions (now Navan) filed confidentially for an IPO. In August 2023,
We’ll wait for the next reporting scoop to see if there will be an updated news story around the upcoming Navan IPO date.
I’ll update this page with news and updates as we learn more.
How to Invest in Navan Stock
Buying private shares will likely become more challenging as Navan approaches its IPO date. Current shareholders are less likely to liquidate in private transactions when a public transaction is near.
Aspiring shareholders can increase their chances of Navan ownership by taking the actions outlined below.
1. Monitor Navan equity availability on pre-IPO investing platforms
I have seen limited availability of Navan stock on pre-IPO platforms like Hiive, EquityZen, Equitybee, Forge Global, and Linqto. Expect to pay at least a $10,000 investment minimum. In some cases, the minimum investment is much higher.
These investing platforms offer direct ownership opportunities for accredited investors. To be eligible, you must open an account and sign up for alerts to be notified when Navan is available on the platform. Signing up for online access to pre-IPO data and deal alerts is free.
Non-accredited retail investors can access pre-IPO companies such as Databricks, Anduril, OpenAI, and Anthropic by owning the Fundrise Innovation Fund.
However, Navan stock is currently not present in the portfolio. Monitor my review for the latest additions to the fund.
Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.
2. Participate in the Navan IPO via a broker
Navan has previously filed confidentially for an IPO. That makes it likely to move forward.
When it does, retail investors can position themselves to gain IPO access by opening accounts with the following online brokers and watching for IPO opportunities.
Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.
3. Invest After the Navan IPO
Acquiring pre-IPO shares of Navan may be challenging, especially for non-accredited investors. The mostly likely way ordinary investors will be able to own Navan stock is after the IPO.
If this company is on your radar, you’re in luck. The startup is expected to IPO with the next 12 months.
Frequently Asked Questions (FAQs)
Is Navan publicly traded today?
No. Navan is not publicly traded.
What is the Navan stock symbol?
Navan is still a private company, so there is no Navan stock symbol yet.
Here are a few suggestions that are available in the U.S.:
- NAVN
- NVAN
- NVN
What is the Navan stock price?
A public Navan stock price does not exist because the company remains private.
Price estimates from pre-IPO marketplaces such as Hiive indicate Navan stock traded at around $6 in April 2024.
Where is the Navan S-1 Filing?
Business Insider reported that Navan filed confidentially for an IPO as TripActions in September 2022. We’ve seen no other evidence to support this.
Presumably, Navan withdrew its filing after rebranding. Business Insider’s August 2023 report indicated that Navan was on a path to an IPO. If true, we could see a Navan IPO filing in 2024.
In the meantime, you can check out the most recent S-1 filings in our filings feed.
Navan News Archive
09/28/2022: BI: TripActions Files Confidentially for an IPO
02/07/2023: TripActions Rebrands to Navan
10/13/2021: From $0 in revenue to a $7.25B valuation
11/08/2018: TripActions raises $154M with valuation north of $1B
03/07/2018: TripActions raises $51 million to take on corporate travel giants
01/24/2017: TripActions raises $14.6 million for its corporate travel booking tool
Conclusion
Navan is a popular enterprise SaaS for travel and expense management. Though not a household name, its fast growth over the past decade has caught the eye of venture capital investors.
Now that it is past its Series G funding round, Navan is a possible candidate for an IPO. Business Insider has reported it could come in early 2024, but we’ve seen very little reporting or evidence to support this.
Pre-IPO investing platforms have expanded opportunities for retail investors. Those who do not want to wait for an IPO can monitor pre-IPO platforms for availability and may be able to buy shares before the IPO. But as Navan approaches its offering date, opportunities to invest before the IPO may be limited.
Remember, investing in the Navan IPO comes with risks. Conduct thorough research and consider your risk tolerance before making any investment decisions. Good luck if you choose to buy Navan stock before or during the IPO. Invest at your own risk.
Craig Stephens is a former IT professional who left his 19-year consulting career at the IRS to be a full-time finance writer. A DIY investor since 1995, he started Access IPOs in 2016 to provide a resource for ordinary investors pursuing access to IPOs. Craig studied Finance at Michigan State University and lives in Northern Virginia with his wife and three children. Learn more about Craig.
Risk Statement: Investing in IPOs and pre-IPO startups involves significant risk. Do not invest in companies based solely on what is included in this article. Only invest in IPOs and pre-IPO companies with money you can afford to lose. Access IPOs is for informational purposes only. Mentions of specific investments should not be construed as financial advice. Conduct personalized research and consider consulting with an investment advisor before investing.
