Teampay Raises $12M in Series A Funding

Funding Rounds

▤ Summary

The round, which brought total funds raised to date to $16m, was led by Tribe Capital with participation from existing investors Crosscut, Silicon Valley Bank, and Precursor Ventures. The company intends to use the funds to scale the platform for agile-minded CFOs and controllers around the country. Founded in 2016 by CEO Andrew Hoag, Teampay provides a distributed spend management platform that gives high-growth companies total control and real-time visibility over purchasing, while empowering employees with smart, policy-driven access to company spend. The company’s SaaS product, which aligns spenders and finance, collects critical data, integrates it into legacy systems, and provides intelligent payments, is used by hundreds of enterprises in the US like Chime, Mixpanel, and RiskIQ.

$ Funding

$
Amount $12.0M Total raised
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Date September 26, 2019 Announcement date
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Investors - Lead investors
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Company https://www.teampay.co/customers/ Funded company

▥ Classifications

industries
Retail
applications
Accounting and Taxes

◇ AskAI Classifications

Labels
Financial Software Expense Management Software Corporate Spend Management

▦ Linked Companies

Team Labs (Teampay)
$5M to $10M