This news comes on the heels of its Series C round. The company plans to use the funding to broaden its currency coverage and expand internationally. Here are the top-line bullets you need to know.
Jeeves, an expense management platform, has raised $180M in a Series C. The round drew participation from Andreessen Horowitz, GIC, Gaingels, Silicon Valley Bank, Stanford University, and Tencent Holdings, among others.
HOW’S THE COMPANY PERFORMING?
- Florida-based Jeeves offers a corporate credit card as well as an expense management app.
- Jeeves’ revenue has grown 900% since its Series B round in September 2021.
- The company has surpassed $1B in annualized gross transaction value (GTV) — it expects this figure to rise to $4B by the end of 2022.
- Jeeves serves over 3K companies, primarily startups, across 24 countries. Some of its customers include Bitso, Belvo, and Kavak.
- The startup currently has 150 employees across 10 countries, and it maintains offices in London, Toronto, Sao Paolo, and Mexico City.
Source: Jeeves
WHY DOES THE MARKET MATTER?
- The global spend management software market is expected to reach a value of $4B by 2027, growing at a CAGR of 17.7%, according to Verified Market Research.
- Rapid digitization has led to the proliferation of account information and spend data, increasing the demand for solutions to enhance data visibility, insight generation, and regulatory compliance.
