Thursday, September 9, 2010

Expensify Raises $5.75M

San Francisco-based Expensify, a developer of software-as-a-service for managing expense reports, said today that it has raised $5.7M in a Series A financing. The round was led by Redpoint Ventures, and also included seed investors Hillsven Capital, Baseline Capital, and angel investor Travis Kalanick. According to the firm, Redpoint's Tim Haley has joined the company's board as part of the funding. The funding round comes on top of an earlier, seed funding worth $1M it received in May of 2009. The Series A closed in July. Expensify says it now has more than 100,000 users using its product. More information »