Total amount raised
$251.5 Millions
Latest funding date
Location
Title
Airbase has successfully raised significant funding through multiple rounds, attracting notable investors such as Goldman Sachs and American Express Ventures. The platform offers comprehensive solutions for spend management, including accounts payable automation, expense management, and corporate cards.
Keep reading to explore the intricacies of Airbase's fundraising journey and the investors backing this innovative platform.
What Is Airbase?
Founded in 2017 by Thejo Kote, Airbase is headquartered in San Francisco, California. The company specializes in providing comprehensive spend management solutions, including accounts payable automation, expense management, and corporate cards.
Airbase's platform integrates with over 70 ERPs, offering features like AI-powered AP and expense reporting, guided procurement, and compliance control. The company has grown significantly, employing between 251-500 people.
Recently acquired by Paylocity, Airbase continues to innovate in the finance and spend management space, helping businesses streamline their financial operations.
How Much Funding Has Airbase Raised?
- Series A
- Amount Raised: $7M
- Date: April 2019
- Lead Investors: First Round Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance the core spend management platform.
- Series A
- Amount Raised: $23.5M
- Date: March 2020
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the customer base.
- Series B
- Amount Raised: $60M
- Date: August 2021
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market expansion.
- Series B
- Amount Raised: $11M
- Date: February 2022
- Lead Investors: American Express Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's features and capabilities.
- Debt Financing
- Amount Raised: $150M
- Date: July 2022
- Lead Investors: Goldman Sachs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the charge card program and meet growing demand.
Airbase has raised a total of $251.5M in funding. The current valuation is not publicly disclosed.
Key Investors
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It provides a wide range of financial services to corporations, financial institutions, governments, and individuals.
- Investment Focus Areas: Investment banking, securities, investment management, financial services.
- Notable Investments: Uber, Facebook, Spotify.
- American Express Ventures
- Details: American Express Ventures is the strategic investment group of American Express. It focuses on investing in innovative startups that align with American Express's strategic priorities.
- Investment Focus Areas: FinTech, consumer commerce, B2B services.
- Notable Investments: Stripe, Plaid, Bill.com.
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that provides capital for seed through growth technology companies. It has been investing in companies for over 40 years.
- Investment Focus Areas: Consumer, enterprise, healthcare.
- Notable Investments: Uber, Roku, Warby Parker.
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital arm of Bain Capital, investing in seed to growth-stage companies. It focuses on technology-driven businesses.
- Investment Focus Areas: FinTech, healthcare, enterprise software.
- Notable Investments: LinkedIn, DocuSign, Jet.com.
- First Round Capital
- Details: First Round Capital is a seed-stage venture capital firm. It specializes in providing early-stage funding to technology companies.
- Investment Focus Areas: Technology, consumer, enterprise.
- Notable Investments: Uber, Square, Roblox.
What's Next for Airbase?
Airbase stands at the cusp of significant growth opportunities, driven by the expansion of its charge card program and increasing demand for corporate cards. With $150 million in debt financing from Goldman Sachs, the company is well-positioned to offer more flexible repayment terms and attract a broader customer base. Leveraging partnerships with American Express and Silicon Valley Bank, Airbase can further enhance its platform and market reach.
Future fundraising opportunities appear promising, with potential for additional debt or equity financing to support product development and market expansion. However, Airbase may face challenges such as competition from other spend management platforms and ensuring the scalability of its solutions. Navigating regulatory requirements and maintaining strong partnerships will be crucial as the company continues to grow.
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