Total amount raised
$311.8 Millions
Latest funding date
1/1/2022
Location
Spendesk has successfully raised significant funding through multiple rounds, with notable investors such as Index Ventures and General Atlantic. The platform offers smart spend management software designed to streamline financial operations for businesses.
Keep reading to explore the intricacies of Spendesk's fundraising journey and the investors backing this innovative platform.
What Is Spendesk?
Spendesk, founded in 2016, is headquartered in Paris, France. The company was established by Jordane Giuly, Quentin Nickmans, and Rodolphe Ardant. Specializing in smart spend management software, Spendesk aims to streamline financial operations for businesses.
With a team of 501-1000 employees, Spendesk offers a comprehensive platform that includes features like smart company cards, expense reimbursements, and budget integration. The platform is designed to provide full visibility and control over company expenses.
Spendesk's solutions are tailored for both finance teams and employees, helping businesses save time and money through automation and strategic financial management.
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 core product and establish the company.
- Seed Round
- Amount Raised: $2.2M
- 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: €8M (approximately $9.1M)
- 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: $68.5M
- 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: €100M (approximately $113M)
- Date: July 2021
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and expand the customer base.
- Series C Extension
- Amount Raised: €100M (approximately $113M)
- Date: January 2022
- Lead Investors: Tiger Global Management
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To hire 300 new employees and invest in product development.
Total Amount Raised: $306.8M
Current Valuation: Over $1 billion
Key Investors
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies. They have a strong presence in both Europe and the United States.
- Investment Focus Areas: Technology, FinTech, SaaS
- Notable Investments: Dropbox, Slack, Robinhood
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, Financial Services, Healthcare, Consumer sectors
- Notable Investments: Airbnb, Alibaba, Uber
- Tiger Global Management
- Details: Tiger Global Management is a New York-based investment firm that focuses on private and public companies in the internet, software, consumer, and financial technology sectors. They are known for their aggressive investment strategy.
- Investment Focus Areas: Internet, Software, Consumer, FinTech
- Notable Investments: Facebook, LinkedIn, Stripe
- Eight Roads Ventures
- Details: Eight Roads Ventures is a global venture capital firm that backs entrepreneurs with aspirations for building transformative companies. They have a strong focus on long-term partnerships.
- Investment Focus Areas: Technology, Healthcare, Consumer sectors
- Notable Investments: Alibaba, Appsflyer, Neo4j
- eFounders
- Details: eFounders is a startup studio that builds and launches software companies. They have a unique model of co-founding companies with entrepreneurs.
- Investment Focus Areas: SaaS
- Notable Investments: Front, Aircall, Spendesk
What's Next for Spendesk?
Spendesk is poised to capitalize on the growing demand for scalable financial solutions, with plans to hire 300 new employees and expand its product offerings. The company’s recent $113 million funding round underscores the significant opportunities ahead, particularly as venture capital interest in European FinTech continues to rise.
Future fundraising seems promising, given the positive industry trends and Spendesk's robust performance. However, challenges such as managing a rapidly growing workforce and maintaining product quality in a competitive market will require strategic focus. As Spendesk navigates these hurdles, its potential for further growth and investment remains strong.
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