Airbase, a corporate spending management firm, has raised $ 60 million in Series B funding in a round led by Menlo Ventures.
Series B raises the total value of San Francisco-based companies to up to $ 91 million. We also featured a new investor, Craft Ventures, and a small number of existing backers, including Bain Capital.
Airbase provides an all-in-one spending management platform that gives small business finance teams more “control, visibility, and automation.”
Recently, it launched a new invoice payment product as a standalone package, claiming to be the first product in the sector to offer international invoiced payments.
The company says it will use the new capital to “secure more” positions, improve its product portfolio and hire new staff.
“The acceptance of Airbase’s innovative spending management platform is overwhelmingly positive,” said Thejo Kote, founder and CEO of Airbase.
“Airbase not only saves businesses time and money, but also radically transforms the spending culture of the entire organization, helping to provide real-time visibility into all unpaid spending.
“We are excited about the future and look forward to providing software that will help companies run better performing businesses.”
The air force base reaches a valuation of $ 600 million, but the round Divvy’s $ 2.5 billion mega acquisition By Bill.com in May.
Airbase raises $ 60 million in Series B to enhance spending management capabilities
Source link Airbase raises $ 60 million in Series B to enhance spending management capabilities