Lehi—Divvy, the world’s first complete Expense Management solution, announced Friday a $10.5 Million round lead by Pelion Ventures and including personal investors Josh James, CEO of Domo, Aaron Skonnard, CEO of Pluralsight, and Jeremy Andrus, CEO of Traeger Grills. The company raised funds to increase the growth rates of the already fast-growing expense management company.
Divvy is designed to give companies total control of business spend. Divvy eliminates the need for expense reports and allows all company employees to have a corporate credit card. All while increasing the real-time spend visibility and control.
“We are positioning ourselves to be the one stop shop for business spending,” said Blake Murray, CEO of Divvy. “We are removing barriers of entry by providing a free, yet powerful, solution for businesses as they spend. We’re passionate about helping every business spend smarter.”
Within the Divvy platform users can send and request funds, create virtual credit cards, manage team spending, and much more. Since launching its product in January 2018, Divvy boasts tens of thousands of users and hundreds of companies using the platform.
“We are very excited to be a part of the Divvy customer family. We feel that the enhancements that the Divvy platform has to offer in terms of us managing our expenses will greatly impact the efficiency of our employees as well as the accuracy of their spending,” said Jeff Jacobson, Chief Operating Officer at Costa Vida.