• FOUNDING YEAR: 2013
    LOCATION:
    United States
    REGION:
    NY
    Last Update:
    18 Oct, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Real-time based employee expense management tool for employers. Abacus: It is a mobile application that allows employees to submit photo scanned receipts and approved expenses which automatically send the reimbursements to employees. Abacus syncs with the accounting software and auto-matches transactions for hassle-free bookkeeping. It helps employers to make faster reimbursements to their employees.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
It has around 100 customers includes Homejoy, Pinterest, URX, Foursquare, Coinbase, Betterment, etc.
EXISTING PARTNERSHIPS:
Accounting partners: Xero, Intuit, Netsuite, Sage, Intacct, Dynamics, Oracle and Quickbooks. Integration partners: Zapier, Lever, Slack, Salesforce and Zenefits.
COMMENT
Abacus leverages real-time data to generate strategic insights and provide visualized information reports. It also syncs with over 16,000 financial institutions to manage all company cards from a single dashboard.

PEOPLE

MEDICI analysts will analyze Abacus soon

TRACTION

Insufficient information for accurate analysis

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$3.5 Millions
DATE OF LAST FUNDING:
Jul 2016
TOTAL FUNDING COMMENT:
An undisclosed fund raised in July 2016.
SEED & PRIOR FUNDING:
$3.5 Millions
SEED CLOSED ON:
Oct 2014
SEED PRIOR FUNDING COMMENT:
plus undisclosed amount
LISTED:
NO

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