# Expensify

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

- Industry: Software
- Headquarters: Portland, US
- Website: www.expensify.com
- Total disclosed funding: $28M
- Latest round: Series C (Jul 27, 2015)
- Investors on record: 8

## About

Based in Oregon, US, and founded in 2008, Expensify, Inc. is a provider of expense report management and tracking services that help automate companies' expense reporting processes. The company was founded by David Barrett, who serves as the CEO of the company as of 2021. In June 2018, Expensify, Inc. raised USD 11 million in venture debt financing led by new investor CIBC. Expensify started trading on the Nasdaq Global Market on November 2021 under the ticker symbol EXFY. The company has offices in San Francisco, Portland, Oregon, London, the United Kingdom, Melbourne, Australia, and Ironwood, Michigan.

The company's platform works on any device and creates online reimbursement reports for credit card-based costs and receipts utilizing accounting software, allowing companies and individuals to track every transaction done in an automatic and straightforward manner. Expensify, Inc. has created a mobile and online application for expenditure reporting that is accessible in the Apple and Android app stores. The app records and saves costs such as gas, travel, and meals, when users picture receipts, artificial intelligence recognizes the merchant, date, and amount of the transaction, then automatically categorizes and saves the expense.

In 2020, the company's revenue was estimated to be USD 88.07 million, up from USD 80.46 million in 2019. During the first half of 2021, it earned USD 65.0 million. The company generates revenue through platform subscriptions, which include free, collect, and control subscription packages. Expensify produces 60% of its income from individuals who download apps free of charge, which in turn results in the purchase of a bundle for a whole organization.

## Funding rounds

- Series C, Jul 27, 2015, $18M — Redpoint Ventures, OpenView, PJC, Hillsven Capital
- Series B, Sep 30, 2014, $3.5M — PJC, Barracuda Networks, Inc., Coyote Ridge Ventures
- Series B, Sep 8, 2010, $5.8M — Redpoint Ventures, Hillsven Capital, Baseline Ventures
- Series A, May 26, 2009, $1M — SV Angel, Hillsven Capital, Baseline Ventures

## Investors

- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Series A
- Hillsven Capital (https://capitalatlas.ai/funds/hillsven-capital) — Series A, Series B, Series C
- Baseline Ventures (https://capitalatlas.ai/funds/baseline-ventures) — Series A, Series B
- Redpoint Ventures (https://capitalatlas.ai/funds/redpoint-ventures) — Series B, Series C
- PJC (https://capitalatlas.ai/funds/pjc) — Series B, Series C
- Barracuda Networks, Inc. — Series B
- Coyote Ridge Ventures (https://capitalatlas.ai/funds/coyote-ridge-ventures) — Series B
- OpenView (https://capitalatlas.ai/funds/openview) — Series C