Divvy Raises $10.5 Million to Tame Expense Reports: Travel Startup Funding This Week
Photo Credit: Some fans of Divvy pose for a photo. The expense management system has received $10 million in Series A funding. Divvy
Skift Take
Divvy is an expense management startup that faces formidable competition from incumbent players, such as Concur, Certify, and Expensify. To draw users, it's offering business travel booking discounts and tools. Clever.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
The total publicized this week was more than $23 million.
>>Divvy, an expense management company, has raised a $10.5 million Series A round.
Pelion Ventures led the financing. The startup has raised more than $20 million to date and has 65 full-time employees.
Divvy, based in Lehi, Utah, enables all employees at the companies that use it to have a virtual company credit card. The startup also replaces the formal filing of monthly expense reports with a digitized system for filing on a rolling basis.
Later this year, the startup will use the funding to launch a team of travel agents who will book travel on behalf of the employees who use the service. In the meantime, employees who use Divvy can access an internet portal where Divvy offers hotel and other travel at discounted, wholesale rates.
>>OwlTing, a maker of blockchain-powered applications for hotel bookings, food safety, and other verticals, has rec
