Abacus Labs
Stage
Acquired | AcquiredTotal Raised
$3.52MAbout Abacus Labs
Abacus Labs develops an expense management platform. With Abacus, users submit expenses as they go and get paid back the next day. For managers, they now have more control, better data, and happier employees.
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Expert Collections containing Abacus Labs
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Abacus Labs is included in 1 Expert Collection, including Fintech.
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US-based companies
Latest Abacus Labs News
Jun 6, 2017
Email Expensify has filed a lawsuit against its T&E competitor Abacus Labs alleging patent infringement. Expensify published a blog post Friday (June 2) announcing the suit. Penned by Expensify founder and CEO David Barrett, the post delves into the spirit of innovation and Expensify’s ability to develop travel and expense management technology before explaining the lawsuit. In the last paragraph, the post says Expensify is suing Abacus Labs “for infringement of two of our most core patents surrounding receipt scanning and, most importantly, the automatic matching of the scanned receipt to a credit card feed.” Barrett directs the reader to court documents “for all the gory details.” “One fantastic aspect of technology is that it’s easier than ever to copy,” the executive writes. “This ‘second-mover advantage’ obtained by copying the innovation of others is well known, and is the general basis for patent law. And despite the enormous cost in both time and money (at a time when both were scarce), we chose to invest in both this technology and the patents to protect them.” This year, Expensify announced a partnership with TravelPerk to offer their joint solutions to customers. Meanwhile, Abacus revealed its own partnership with Intacct in December to facilitate real-time sharing of data between the T&E and ERP platforms. Abacus had not yet commented on the lawsuit or the allegations from Expensify as of press time.
Abacus Labs Frequently Asked Questions (FAQ)
Where is Abacus Labs's headquarters?
Abacus Labs's headquarters is located at 14 E 38th St, New York.
What is Abacus Labs's latest funding round?
Abacus Labs's latest funding round is Acquired.
How much did Abacus Labs raise?
Abacus Labs raised a total of $3.52M.
Who are the investors of Abacus Labs?
Investors of Abacus Labs include Certify, Slack Fund, FundersClub, Tuesday Capital, Homebrew and 18 more.
Who are Abacus Labs's competitors?
Competitors of Abacus Labs include Divvy.
Compare Abacus Labs to Competitors
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Fyle is a computer vision-enabled expense management platform for enterprises. Fyle's platform can identify expense related data in emails, such as an air ticket receipt or a phone bill, and convert that data so it can be retrieved in a structured format and sent to the expense tool.
Center provides expense management software for construction, field services, manufacturing, non-profits, and professional services industries. It offers solutions for business travel expenses, billable expense tracking, corporate credit card, expense report process, and expense software. The company was formerly known as Touchstone ID. Center was founded in 2017 and is based in Bellevue, Washington.
Torpago offers corporate spending management software. Torpago empowers companies with simple and easy solutions that grant more extensive control and transparency of company spend. The Torpago cards and software enable thousands of businesses to better manage spend. Torpago was founded in 2019 and is based in San Francisco, California.
Chek is a company that specializes in enabling the efficient and secure distribution of money at scale. The company helps nonprofits, universities, and sports organizations. The company was founded in 2019 and is based in New York, New York.
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