What is Expensify?
Expensify, Inc. provides a comprehensive cloud-based expense management software platform catering to a diverse clientele, including individuals, corporations, small to medium-sized businesses, and enterprises across the United States and internationally. The platform's functionalities extend to managing corporate cards, facilitating bill payments, generating invoices, processing payments, and enabling travel bookings. Additionally, Expensify offers track and submit plans tailored for individual users. Founded in 2008 and headquartered in Portland, Oregon, the company has established itself as a key innovator in streamlining financial operations for businesses of all sizes.
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 Baseline Ventures, Hillsven Capital, SV Angel, and Travis Kalanick
Series A (2010): $5.8M led by Redpoint Ventures
Series B (2014): $3.5M supported by Coyote Ridge Ventures and Point Judith Capital
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, founded in 2006, is a venture capital firm specializing in B2B software companies. They have a track record of investing in successful SaaS businesses and are known for their operational support to portfolio companies.
Redpoint Ventures
Redpoint Ventures, established in 1999, is a venture capital firm that focuses on investments in early growth-stage companies, providing capital and strategic guidance to help them scale.
SV Angel
SV Angel is a long-term investment firm dedicated to supporting founders by providing essential resources, strategic insights, and a vast network to help companies scale effectively.
What's next for Expensify?
With a history of consistent capital injections, Expensify appears poised for further expansion and product development. The company's strategic funding rounds suggest a focus on scaling its operations, enhancing its platform capabilities, and potentially exploring new market segments. The enterprise-level backing indicates a mature stage of growth, likely enabling Expensify to invest in advanced technologies, strengthen its competitive position, and pursue strategic partnerships or acquisitions to further solidify its market leadership in the expense management and corporate finance solutions space.
See full Expensify company page
