Direct Travel, Inc., a travel management company, has been acquired by Steve Singh, a venture capitalist and founder of Concur, the travel and expense management company. He is joined as an investor in the deal by Durable Capital Partners, Madrona Ventures, Top Tier Capital Partners, and Blackstone Credit & Insurance. Singh will serve as executive chairman of Direct Travel, and Christal Bemont will assume the role of CEO.

Direct Travel, according to an announcement, serves over 4,500 mid-market and enterprise clients. It has over recent years integrated its own AI innovations around client experience with a modern integrated travel technology stack from Spotnana (a travel-as-a-service platform), Center (card-first expense management platform) and Troop (group meetings and events platform).

The investment group, said Singh, “has sought out companies that are reinventing key elements of the travel ecosystem with a goal of delivering a dramatically better value proposition to business travelers, the companies they work for, and the travel providers that serve them.”

As part of the acquisition, CEO Ed Adams, who founded the company in 2011, plans to retire. Bemont was formerly CEO of Talend and before that served as the chief revenue officer of SAP Concur, where she spent over 15 years.