What is Expensify?
Expensify, Inc. offers a comprehensive cloud-based expense management software platform designed for individuals, corporations, and small to medium-sized businesses. The platform streamlines financial operations by enabling users to manage corporate cards, process bill payments, generate invoices, collect payments, and facilitate travel bookings. Additionally, it provides track and submit plans tailored for individual users. Based in Portland, Oregon, Expensify has established itself as a key player in the fintech industry, providing essential tools for financial management and operational efficiency.
How much funding has Expensify raised?
Expensify has raised a total of $38.8M across 5 funding rounds:
Angel/Seed
$1M
Series A
$5.8M
Series B
$3.5M
Series C
$17.5M
Other Financing Round
$11M
Angel/Seed (2009): $1M with participation from Travis Kalanick, Hillsven Capital, SV Angel, and Baseline Ventures
Series A (2010): $5.8M led by Redpoint Ventures
Series B (2014): $3.5M supported by Point Judith Capital and Coyote Ridge Ventures
Series C (2015): $17.5M featuring OpenView Venture Partners
Other Financing Round (2018): $11M backed by CIBC
Key Investors in Expensify
OpenView Venture Partners
OpenView Venture Partners is a venture capital firm established in 2006, specializing in investments within the B2B software sector. They have a track record of backing companies like Zipwhip and Calendly, indicating a focus on scalable software solutions.
SV Angel
SV Angel is an investment firm committed to long-term support for founders, providing resources, strategic insights, and network access to facilitate company growth. They emphasize building strong partnerships and advocating for entrepreneurs.
Baseline Ventures
Founded in 2014, Baseline Ventures operates within sports, entertainment, and brand licensing, focusing on athlete management and global partnerships. Their expertise lies in creating significant brand collaborations and sports properties.
What's next for Expensify?
With substantial enterprise-level backing and a recent strategic investment, Expensify is well-positioned for continued scaling and innovation. The company's trajectory suggests a focus on enhancing its platform's capabilities, potentially expanding into new markets, and further solidifying its competitive advantage. Future developments may include deeper integrations with financial institutions, advanced AI-driven expense analysis, and enhanced corporate card management solutions. The consistent flow of capital indicates strong investor confidence in Expensify's business model and its potential for sustained growth in the dynamic expense management software landscape.
See full Expensify company page
