“This is a big differentiator for us,” said Emburse CEO and Concur alum Eric Friedrichsen. The company has three core offerings: Emburse Chrome River, which is focused on the enterprise Emburse Certify, which serves midmarket companies and its newest one, Emburse Spend, which is geared toward SMBs. The three companies were combined to form what is today Emburse. In 2019, a company called Certify’s private equity owner, K1, acquired Emburse and another company called Chrome River that did spend management and invoice automation in the enterprise space. The company that was originally called Emburse was on the Disrupt stage in 2015 and issued prepaid cards quickly to employees. The company touts that with Emburse Spend, managers can issue cards “at any time without waiting for finance’s approval.”Įmburse’s history is a bit complex so we’ll try to simplify it for you. The goal with Emburse Spend is to “transform the corporate card from an executive status symbol into an everyday tool for teams.” It’s aimed at employees who are “constantly” making small purchases, like software subscriptions, instead of expensing a few business trips a year. But in time, more of these corporate spend players are evolving into being both. In the increasingly crowded, and very competitive, corporate spend space, companies have either been predominantly subscription-focused or fee-based. Again, this is the opposite move Brex has made, which is diversifying its revenue base to include more subscriptions in addition to interchange fees. Today, Emburse is revealing its first product - called Emburse Spend - that relies on interchange fees rather than subscriptions. Historically, it has competed with legacy players like Concur and Expensify and ERP players.īut now Emburse is making a big push into the SMB space and going head-to-head with fast-growing startups like Ramp and Brex - the latter of which started at the SMB end of the market and coincidentally today announced it’s making a big push into software and the enterprise space. With 12 million users and nearly $200 million in annual recurring revenue, expense software provider Emburse has built much of its business in the enterprise.
0 kommentar(er)
