8/25/2023 0 Comments Divvy 165m“We’re not just building for tech startups - we help businesses across the country by providing the capital and financial software they need to thrive. “The best in every vertical choose Divvy,” Murray said in a statement. The $1.6 billion figure puts Divvy easily past the $1 billion mark that’s become the delineator for privately held “unicorn” tech companies.ĭivvy CEO Blake Murray said while the company boasts some heavy-hitting tech interests among its list of clients - now numbering over 10,000 - the platform works for businesses in any sector and of any size. Divvy earns its money on the banking side of its transactional system.Īlong with Tuesday’s funding announcement, the company released its first valuation. The Series D round includes new investments from Hanaco Ventures, PayPal Ventures, Schonfeld Strategic Advisers and Whale Rock Capital Management along with participation from previous investors Acrew Capital, Insight Venture Partners, NEA and Pelion Venture Partners.ĭivvy launched in 2016 as an expense management tool but has since evolved into a multifunction platform that includes invoicing automation and smart corporate credit cards to help businesses oversee the spending side of their operations. ![]() DRAPER - Business financial technology innovator Divvy has continued its stellar growth arc even amid pandemic conditions and on Tuesday announced a fresh $165 million in funding along with a valuation that’s vaulted the company into a rarefied realm.
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