# Airbase

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

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.airbase.com
- Total disclosed funding: $96M
- Latest round: Series B (Feb 18, 2022)
- Investors on record: 9

## About

Airbase, Inc., based in the US, specializes in procure-to-pay solutions, providing innovative financial management tools that streamline purchasing, accounts payable automation, and expense management for businesses across various sectors.Founded in 2017 and headquartered in San Francisco, US, Airbase, Inc. focuses on delivering financial management solutions. The company has successfully completed 7 deals, with the most recent deal occurring on September 4, 2024. In this latest transaction, Paylocity acquired Airbase for USD 325 mn, enabling the expansion of its service offerings and market reach. The founder's background includes previous entrepreneurial ventures, contributing to Airbase's strategic direction.Airbase offers a comprehensive suite of financial management tools, including guided procurement with stakeholder routing, touchless accounts payable automation, and a corporate card program that integrates with various financial institutions. The platform targets mid-sized to large enterprises across sectors such as technology, healthcare, and non-profits, facilitating automated processes, compliance enhancement, and improved visibility into spending.Airbase generates revenue through a subscription-based model where clients subscribe to different modules of its platform, such as guided procurement and AP automation. Pricing is determined by the scale and features chosen, allowing flexibility for a range of customers from startups to established enterprises. This model ensures predictable revenue streams and integrates seamlessly with clients' existing financial systems.Following the acquisition by Paylocity in September 2024, Airbase aims to leverage its capabilities to enhance client services. The acquisition will enable Paylocity to expand its total addressable market and support businesses in managing all business-related spending on a consolidated platform. This strategic move is anticipated to boost Airbase's product offerings and market presence significantly.

## Funding rounds

- Series B, Feb 18, 2022, $5M — American Express Ventures
- Series B, Jun 8, 2021, $60M — Menlo Ventures, Bain Capital, First Round Capital, Webb Investment Network, BoxGroup, Craft Ventures, Quiet Capital
- Series A, Mar 5, 2020, $24M — Bain Capital, First Round Capital, Webb Investment Network, BoxGroup
- Series A, Nov 1, 2018, $7M — First Round Capital, BoxGroup, Village Global, Quiet Capital

## Investors

- First Round Capital (https://capitalatlas.ai/funds/first-round-capital) — Series A, Series B
- BoxGroup (https://capitalatlas.ai/funds/boxgroup) — Series A, Series B
- Village Global (https://capitalatlas.ai/funds/village-global) — Series A
- Quiet Capital (https://capitalatlas.ai/funds/quiet-capital) — Series A, Series B
- Bain Capital (https://capitalatlas.ai/funds/bain-capital) — Series A, Series B
- Webb Investment Network (https://capitalatlas.ai/funds/webb-investment-network) — Series A, Series B
- Menlo Ventures (https://capitalatlas.ai/funds/menlo-ventures) — Series B
- Craft Ventures (https://capitalatlas.ai/funds/craft-ventures) — Series B
- American Express Ventures (https://capitalatlas.ai/funds/american-express-ventures) — Series B