![]() ![]() After covering the Ramp round in December and noting Divvy's metrics at the same time, both Airbase ( more here) and Teampay ( more here) reached out with numbers of their own. But that so many companies in its sector are managing similarly strong-to-line expansion stands out. That Divvy was able to raise so much capital given its recent growth rates is not surprising. At the time, Brex, which also competes in the corporate spend space, declined to share metrics. I'm grateful to be part of the incredible team here at Divvy Inc. At the same time Divvy shared with TechCrunch that it had seen 120% customer growth and over 100% growth in platform spend in 2020, compared to 2019. CompetitionĪ few weeks back Ramp, another corporate-cards-and-software startup, announced a $30 million raise and that it had reached $100 million in spend through its service in its first 18 months of business. Let's take a look at who Divvy is taking on with its new round. ![]() ![]() The company said that the new capital was raised from Hanaco, Schonfeld, PayPal Ventures, and Whale Rock, along with a cadre of prior investors. The new capital for Divvy comes after multiple other competitors recently announced fresh funds itself, for example. Today Divvy, a Utah-based startup that focuses on corporate spend management, announced that it has closed a 165 million round at a 1.6 billion valuation. Divvy's market, the corporate spend management space - broadly, corporate cards and software that helps firms manage and limit expenses - is incredibly active today as businesses look to modernize their financial infrastructure. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |