Total amount raised
$311.8 Million
Latest funding date
1/1/2022
Location
Spendesk has successfully raised significant funding over multiple rounds, establishing itself as a key player in the financial management platform space. The platform offers a range of features including smart company cards, invoice management, and real-time expense tracking.
Keep reading to explore the intricacies of Spendesk's fundraising journey and the investors backing this innovative platform.
What Is Spendesk?
Spendesk operates in the financial management and fintech industry, providing a comprehensive platform for managing company expenses. The company is based in France and is recognized as a French payment institution authorized by the ACPR.
Spendesk offers a range of features including smart company cards, invoice management, procurement, budget integration, virtual cards, and expense reimbursements. The platform is designed to simplify accounting, automate expense processes, and ensure secure and compliant financial operations. Trusted by over 5,000 finance teams, Spendesk is known for its consultative support and strong community engagement through CFO Connect.
How Much Funding Has Spendesk Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and launch the business.
- Seed Round
- Amount Raised: $2,200,000
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $9,800,000
- Date: January 2018
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's features.
- Series B
- Amount Raised: $68,500,000
- Date: September 2019
- Lead Investors: Eight Roads Ventures, Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and further develop the product.
- Series C
- Amount Raised: $113,000,000
- Date: July 2021
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and hire 300 new employees.
- Series C Extension
- Amount Raised: $113,000,000
- Date: January 2022
- Lead Investors: Tiger Global Management
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To continue scaling the team and invest in product development.
Total Amount Raised: $306,500,000
Current Valuation: Over $1 billion
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies in the technology, internet, and consumer sectors. Founded in 2001, the firm has a strong track record of backing high-growth companies.
- Investment Focus Areas: Technology, internet, software, consumer, financial technology
- Notable Investments: Facebook, LinkedIn, Spotify
- General Atlantic
- Details: General Atlantic is a global growth equity firm providing capital and strategic support for growth companies. Established in 1980, the firm has a long history of investing in technology, consumer, financial services, and healthcare sectors.
- Investment Focus Areas: Consumer, financial services, healthcare, life sciences, technology
- Notable Investments: Airbnb, Alibaba, Uber
- Eight Roads Ventures
- Details: Eight Roads Ventures is a global venture capital firm that invests in technology and healthcare companies. The firm has a strong presence in Europe, Asia, and the US, and focuses on helping companies scale and succeed.
- Investment Focus Areas: Technology, healthcare, consumer
- Notable Investments: Alibaba, Appsflyer, Neo4j
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology and life sciences companies. Founded in 1996, the firm has a strong track record of supporting innovative startups and helping them grow.
- Investment Focus Areas: Technology, software, life sciences
- Notable Investments: Dropbox, Etsy, Slack
- eFounders
- Details: eFounders is a startup studio that builds and launches SaaS companies. Founded in 2011, the firm has been instrumental in creating and supporting several successful startups in the B2B sector.
- Investment Focus Areas: SaaS startups, B2B sector
- Notable Investments: Aircall, Front, Spendesk
What's Next for Spendesk?
Spendesk is poised for significant growth, leveraging its recent $113 million funding to expand its team by 300 employees and enhance its product offerings. This expansion aims to capitalize on the increasing demand for spend management solutions among SMBs, a market that continues to grow as businesses seek more efficient financial management tools.
With a valuation exceeding $1 billion, Spendesk is well-positioned to attract further investment. The involvement of high-profile investors like Tiger Global and General Atlantic underscores the company's potential for future fundraising. However, challenges such as attracting top talent and maintaining service quality across multiple cities remain critical as the company scales.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Spendesk and gather other critical business insights.
Sign up for free to start unlocking valuable information that can drive your sales success.
