# Accrualify

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/accrualify

- Industry: Software
- Headquarters: San Mateo, US
- Website: www.accrualify.com
- Total disclosed funding: $3.8M
- Latest round: Series A (Aug 30, 2018)
- Investors on record: 2

## About

Accrualify, Inc. provides a comprehensive accounts payable automation platform that enhances business efficiency by streamlining workflows and payment processes across various industries.Founded in 2015 and headquartered in San Mateo, US, Accrualify specializes in automating the accounts payable lifecycle. The company was acquired by FleetCor Technologies, Inc. in August 2022, with the aim of enhancing FleetCor's payment solutions. The co-founder and CEO is Benjamin Portusach, who has a background in technology and business operations. To date, Accrualify has successfully completed a total of 3 deals, raising a total of USD 3.20 mn in its Series A funding round led by Aligned Partners, with the latest deal occurring on August 3, 2022.Accrualify offers an all-in-one accounts payable (AP) automation platform that allows over 800,000 clients to efficiently manage tasks, teams, and workflows. Key features include automated purchase order requests, seamless integration with existing accounting systems, and the use of virtual cards for payments across a network of over 1 million vendors. Their services cater to a diverse range of industries including automotive, hospitality, construction, education, and financial services, enabling organizations to reduce manual processing time and minimize errors.Accrualify's revenue is derived from a subscription-based model, where clients pay for access to their AP automation and payment solutions. Through various subscription tiers, clients can utilize features such as invoice automation and expense management. The transactional framework involves B2B interactions, where businesses process vendor payments via Accrualify’s platform, allowing the company to capture a percentage of each transaction processed, thereby establishing recurring revenue streams.Following its acquisition in August 2022, Accrualify will leverage the resources of FleetCor Technologies, Inc. to expand its payment solutions and enhance its platform. As part of this growth strategy, Accrualify is likely to focus on new product offerings and may target specific geographic expansions to further penetrate the North American, European, and Asian markets, although specific timelines for these initiatives have yet to be disclosed.

## Funding rounds

- Series A, Aug 30, 2018, $3.2M — Aligned Partners
- Seed, May 9, 2017, $0.6M — SWAN Venture Fund

## Investors

- SWAN Venture Fund (https://capitalatlas.ai/funds/swan-venture-fund) — Seed
- Aligned Partners (https://capitalatlas.ai/funds/aligned-partners) — Series A