Other trademarks are property of their respective owners. EquityZen and logo are trademarks of EquityZen Inc. ![]() Headquartered in San Jose, California, provides. By accessing this site and any pages thereof, you agree to be bound by our Terms of Use. Utah-based Divvys platform puts expense-management software and smart corporate cards together. Check the background of this firm on FINRA’s BrokerCheck.Į is a website operated by EquityZen Inc. EquityZen Securities is a broker/dealer registered with the Securities Exchange Commission and is a FINRA/ SIPC member firm.Įquity securities are offered through EquityZen Securities. See our Risk Factors for a more detailed explanation of the risks involved by investing through EquityZen’s platform.ĮquityZen Securities LLC (“EquityZen Securities”) is a subsidiary of EquityZen Inc. Investors must be able to afford the loss of their entire investment. Investing in private companies may be considered highly speculative and involves a high degree of risk, including the risk of substantial loss of investment. We’re thrilled to support Divvy’s continued expansion.Investment opportunities posted on this website are "private placements" of securities that are not publicly traded, are subject to holding period requirements, and are intended for investors who do not need a liquid investment. “PayPal and Divvy share a goal of simplifying all that goes into running a business, which creates more time to focus on customers. “With its compelling free software, Divvy is poised to become a key part of the financial nervous system for businesses,” Sanborn said in a statement. Peter Sanborn, PayPal vice president in charge of corporate development as well as PayPal Ventures managing partner, said his company and Divvy have a shared business DNA focused on making business management easier and more efficient. The company was founded in 2016 and is based in Lehi, Utah.Divvy is a platform that helps businesses manage payments and subscriptions, build strategic. PayPal helped invent the world of online payments back in the late ’90s and brings a wealth of experience to team Divvy. Those future pathways could include some interesting collaborations with new investor PayPal, which counts over 300 million account holders worldwide. The company reports a 500% increase in monthly sign-ups since March 2020.ĭivvy said the new funding, which brings the company’s total raise to date north of $400 million, will help fuel product development and engineering efforts to accelerate “future road maps.” Under terms of the news release distributed yesterday (after trading on Wall Street closed), Lehi, Utah-based Divvy has agreed to be purchased for 1.875 million shares of and 625 million in cash. The company has created a dashboard that allows executives. Learn more about this construction and project management. Lehi, Utah-based Divvy seeks to eliminate a familiar paint point for many office workers: filing expense reports at the end of the month. We’re fortunate to be able to build for companies of all sizes and we’re grateful to everyone who has helped us get here.”ĭivvy said it’s seen stellar growth even amid the tough economic conditions wrought by restrictions and impacts of the COVID-19 pandemic. The Boyer Company master-planned and developed the Divvy HQ at 136 Center in Draper, Utah. “We’re not just building for tech startups - we help businesses across the country by providing the capital and financial software they need to thrive. “The best in every vertical choose Divvy,” Murray said in a statement. The $1.6 billion figure puts Divvy easily past the $1 billion mark that’s become the delineator for privately held “unicorn” tech companies.ĭivvy CEO Blake Murray said while the company boasts some heavy-hitting tech interests among its list of clients - now numbering over 10,000 - the platform works for businesses in any sector and of any size. Divvy earns its money on the banking side of its transactional system.Īlong with Tuesday’s funding announcement, the company released its first valuation. The Series D round includes new investments from Hanaco Ventures, PayPal Ventures, Schonfeld Strategic Advisers and Whale Rock Capital Management along with participation from previous investors Acrew Capital, Insight Venture Partners, NEA and Pelion Venture Partners.ĭivvy launched in 2016 as an expense management tool but has since evolved into a multifunction platform that includes invoicing automation and smart corporate credit cards to help businesses oversee the spending side of their operations. ![]() DRAPER - Business financial technology innovator Divvy has continued its stellar growth arc even amid pandemic conditions and on Tuesday announced a fresh $165 million in funding along with a valuation that’s vaulted the company into a rarefied realm.
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